Infosys, a significant IT service provider, posted their consolidated net profit at Rs. 5,421 crore for the September quarter under review. The net profit has increased 11.9% year-on-year and 4.4% compared to an Rs. 5,195 crore in the June quarter. The reason behind the growth is “Strong revenue contribution from Daimler deal, higher adoption of digital transformation by clients, broad-based growth across verticals, and strong seasonality.”
Additionally, they have announced an interim dividend of Rs. 15 per share for the FY 2021-22 (FY22) for the same quarter. Infosys has set October 27, as the record date for the interim dividend and November 10, 2021, as the payment date for the same. The company’s IT revenue increased to Rs. 29,602 crore, compared to an Rs. 27,896 crore in the earlier quarter. Their revenue guidance was revised ahead from 14%-16% to 16.5%-17.5%, and the margin guidance has been maintained at 22%-24%, unchanged.
Earlier in the last year, Daimler and Infosys declared a long-term strategic partnership, which aimed at a technology-driven IT infrastructure transformation. Now, the company has announced that they have expanded the fresher hiring program to 45,000 for this year. Robust demand in the IT sector has been the reason behind this hiring drive.
Infosys has announced its results today after the market hours were over. However, today, their stock ended nearly 1.5% higher at Rs. 1708.75 on the BSE.
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Story first published: Wednesday, October 13, 2021, 17:22 [IST]
Original news source Credit: www.goodreturns.in