Infosys Reports Strong Q4FY24 Results, Net Profit Up 30%

Infosys Reports Strong Q4FY24 Results, Net Profit Up 30%

In a promising turn of events, Infosys, one of India's leading IT giants, has reported impressive financial results for the fourth quarter of the fiscal year 2024 (Q4FY24). The company witnessed a remarkable 30% jump in net profit, soaring to Rs 7,969 crore compared to Rs 6,128 crore in the same period last year. This substantial increase highlights Infosys' resilience and ability to navigate through challenging market conditions.

Furthermore, the consolidated revenue of Infosys saw a commendable uptick of 1.3%, reaching Rs 37,923 crore in Q4FY24, compared to Rs 37,441 crore in Q4FY23. This steady growth in revenue underscores the company's consistent performance and strategic business decisions.

Looking ahead, Infosys has set optimistic projections for the financial year 2025 (FY25), expecting its revenue to grow by 1-3% in constant currency. This forward-looking approach reflects Infosys' confidence in its capabilities and its commitment to sustained growth in the dynamic IT landscape.

For the fiscal year 2024 (FY24) as a whole, Infosys reported a notable 8.9% increase in net profit, reaching Rs 26,233 crore from Rs 24,095 crore in FY23. Additionally, the company's annual income from operations witnessed a healthy rise of 4.7%, reaching Rs 1,53,670 crore in FY24 compared to Rs 1,46,767 crore in FY23. These figures underscore Infosys' consistent performance and its ability to deliver value to its stakeholders.

In a move to reward its shareholders, Infosys' board has recommended a final dividend of Rs 20 per equity share for FY24, along with a special dividend of Rs 8 per equity share. This gesture reflects Infosys' commitment to creating value for its investors and sharing its success with them.

Moreover, Infosys has announced its intention to maintain a cash flow distribution policy starting from FY25. The company aims to return approximately 85% of its free cash flow cumulatively over a 5-year period through a combination of semi-annual dividends and/or share buyback/special dividends, subject to applicable laws and requisite approvals. This proactive approach demonstrates Infosys' focus on maximizing shareholder returns while ensuring responsible financial management.

In addition to its financial performance, Infosys has also made strategic moves to strengthen its market position and enhance its capabilities. The company recently announced the acquisition of the German firm in-tech in an all-cash deal valued at 450 million euros. This acquisition aligns with Infosys' growth strategy and will enable the company to expand its presence in key markets and leverage new opportunities.

On the stock market front, shares of Infosys closed at Rs 1,420.55 apiece on the Bombay Stock Exchange on the day of the Q4FY24 results announcement. This closing price reflects investor confidence in Infosys' performance and growth prospects.

In conclusion, Infosys' robust financial results for Q4FY24, along with its optimistic outlook for FY25, underscore the company's resilience, strategic vision, and commitment to delivering value to its stakeholders. With a strong track record of performance and a proactive approach to growth, Infosys remains well-positioned to navigate the evolving IT landscape and drive sustainable success in the years to come.

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