Infosys reports consolidated net profit of Rs 6,021 in Q2Fy23, up 11 pc y-o-y

Revenue from operations stood at Rs 36,538 crore, clocking a 23.4 percent growth over Rs 29,602 crore in the Q2FY22, the company said in a stock exchange filing.

On quarter-onquarter basis, revenue increased 6 percent while net profits surged 12.3 percent sequentially.

Revenues in constant currency terms grew by 18.8 percent year on year (YoY) and 4 percent quarter on quarter (QoQ).

The company also said it will be buying back shares worth Rs 9,300 crore, in order to reward its shareholders.

Its operating margin came in at 21.5 percent, a drop of 2.1 percent YoY and increase of 1.4 percent QoQ.

The large deal total contract value (TCV) for the quarter was $2.7 billion – the highest in the last seven quarters.

“Our strong large deal wins and steady all-round growth in Q2 reflect the deep relevance and differentiation of our digital and cloud solutions for clients as they navigate their business transformation”, said Salil Parekh, CEO and MD, Infosys.

“While concerns around the economic outlook persist, our demand pipeline is strong as clients remain confident in our ability to deliver the value they seek, both on the growth and efficiency of their businesses.”

“Operating margins in Q2 expanded sequentially by 150 bps, helped by our operational rigour. While supply-side challenges are gradually abating as reflected in the reducing attrition rates, they continue to exert pressure on our cost structure,” said Nilanjan Roy, Chief Financial Officer, Infosys.

The Board of Infosys also declared an interim dividend of Rs 16.50 per share, an increase of 10 percent over the FY22 interim dividend.

The total amount of the interim dividend will be about Rs 6,940 crore.