Infy profit zooms 30% to ₹ 7,969cr in Q4

New Delhi : IT major Infosys on Thursday announced that its consolidated profit jumped 30 per cent to Rs 7,969 crore in the fourth quarter ended March 2024. The company posted a profit of Rs 6,128 crore in the same period a year ago, according to a regulatory filing. The consolidated revenue of Infosys during the reported quarter increased by 1.3 per cent to Rs 37,923 crore from Rs 37,441 crore in the same quarter a year ago.

The company expects a revenue growth of 1-3 per cent in constant currency during the current fiscal and operating margin of 20-22 per cent. Infosys posted an operating margin of 20.1 per cent during the reported quarter and 20.7 per cent in the financial year 2023-24.

During the financial year ended March 2024, net profit increased by 8.9 per cent to Rs 26,233 crore from Rs 24,095 crore recorded in FY23. The annual income from operations increased by 4.7 cent to Rs 1,53,670 crore in fiscal year 2024 from Rs 1,46,767 crore a year ago.

Infosys said the total contract value of its large deals in FY24 reached the highest-ever at $17.7 billion, with 52 per cent of them being net new. "We delivered the highest ever large deal value in the financial year 2024. This reflects the strong trust clients have in us. Our capabilities in Generative AI continue to expand. We are working on client programmes, leveraging large language models with impact across software engineering, process optimization, and customer support," Infosys CEO and MD Salil Parekh said.

Infosys board recommended a final dividend of Rs 20 per equity share for FY24 and additionally a special dividend of Rs 8 per equity share. The Infosys board reviewed and approved the capital allocation policy for the next five years from FY25 to FY29 after taking into consideration the strategic and operational cash requirements.

"Free cash flow of $848 million in the fourth quarter was highest in the last 11 quarters driven by our relentless focus to improve working capital cycle. Consistent with the objective of giving high and predictable returns to shareholders, the board has approved the capital allocation policy under which the company expects to return 85 per cent over the next 5 years and progressively increase annual dividend per share," Infosys CFO Jayesh Sanghrajka said.