Infosys Q2 Results: Company's Profit Up 11 Percent

World's IT giant Infosys's profit grew 11% to Rs 6,021 crore in the second quarter of the current financial year. After this profit, the company also announced a dividend of Rs 16.50 per share to the shareholders. Infosys on Thursday released its results for the quarter that ended in September. Accordingly, the consolidated revenue of the company has increased by 23.4 percent. 

The consolidated revenue of the company has increased to Rs 36,538 crore. Infosys board has also approved the buyback of shares worth Rs 9,300 crore at Rs 1,850 per share after strong results. The board has also declared an interim dividend of Rs 16.50 per share.

Shares of Infosys closed nearly 0.7% lower on Thursday ahead of the announcement of Q2 results. Infosys operating margin expanded 150 bps sequentially in the second quarter. Chief financial officer (CFO) Nilanjan Roy said cost optimization helped margins improve by 90 bps, while the currency tailwind grew by 60 bps.

Constant currency revenue growth was 18.8% year over year (YoY) and 4% quarter over quarter (QoQ). With a YoY growth rate of 31.2 percent in constant currency, digital revenues for the quarter accounted for 61.8% of total revenues.

The quarter's $2.7 billion large transaction total contract value (TCV) was the highest in the previous seven quarters. Additionally, the company increased its original projection for FY23 sales from 14 to 16 percent to 15 to 16 percent. The updated operating margin forecast is between 21 and 22 percent.