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The decision which was communicated to the exchanges triggered a rise of 2.84% in the Infosys share price on October 17.
October 29 was fixed by the Infosys management as the record date for dividend payment. (Picture Credit: depositphotos)
Market bellwether and India’s second biggest software company Infosys has announced an interim dividend of Rs 21 per equity share. The dividend was a part of the Q2 financial results pertaining to the July-September period.
The dividend will be paid to shareholders on November 8. The announcement on the dividend front and revenue guidance are believed to be behind the rise in the share price today despite the decline in the broader markets.
Record date for dividend payment
Infosys management has fixed the record date for dividend payment as October 29. In the NSE, Infosys shares rose 2.84% at Rs 1,974.55. This was against a decline of the broader Nifty 50 index by 221.45 points or 0.89% and settling at 24,749.85.
Infosys revenue forecast
The movement of the scrip on October 17 seemed to be powered by the fact that the Infosys management forecast a revenue growth between 3.75% to 4.5% which is than its earlier guidance of 3% to 4%. The Bengaluru-based IT major earlier upped guidance in the April-June quarter from the 1% to 3% range which it stated at the beginning of the year.
Turning to the full year, Infosys has maintained its guidance on profit margins. The management expects that the EBIT (earnings before interest and tax) margins for FY25 will range between 20% and 22%.
Q2 profits and revenue
Profit after tax (PAT) of the company stood at 6,506 crore in the July-September period. This was an increase by 4.7% compared against the Rs 6,212 crore figure recorded in the corresponding period in 2023. Revenue for the same period (Q2 of FY25) was reported at Rs 40,986 crore (up 4.2%). The announcements were revealed in a filing to the exchanges Infosys made following the decisions taken in the board meeting of the company on October 16-17.
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