New Delhi: IT major Infosys reported revenue growth of 1.3 per cent year-on-year (YoY) in the fourth quarter of the recently concluded financial year 2023-24, with its revenue reaching Rs 37,923 crore. Moreover, Infosys’ net profit rose 30 per cent year-on-year to Rs 7,969 crore, the company informed stock exchanges in its quarterly earnings data released on Thursday. Ifsys also estimates a growth path in the range of 1 to 3 per cent for fiscal year 2024-25.
The company also announced approval of the acquisition of In-Tech Holding GmbH, a leading player in engineering R&D services. “We have delivered the largest deal value ever in fiscal year 2024. This reflects clients’ strong confidence in us. Our capabilities in generative AI continue to expand. We are leveraging large language models with impact in software engineering Working on scaling up client programs, process optimization and customer support, said Salil Parekh, CEO and MD.
He added, “I want to thank our 317,000 employees around the world who are working to create value for our customers.” Additionally, Infosys declared a dividend of Rs 28 per share, which includes a regular dividend of Rs 20 per equity share, plus an additional special dividend of Rs 8 per equity share, for the financial year ending March 31, 2024. A dividend is a reward that companies often provide to their shareholders from a portion of their earnings, although it is not mandatory.
The company also announced that the next 43rd Annual General Meeting of Members of the Company will be held on Wednesday, June 26, 2024. Infosys is a digital services and consulting company. With a workforce of over 3,00,000, the IT firm has customers in over 56 countries. Infosys shares closed more than per cent higher at Rs 1,429.50 in Thursday’s trading session ahead of the company announcing its Q4 results. The company’s shares have risen by more than 16 percent on NSE in the last one year.
