Infosys Announces Financial Highlights for Second Quarter 2023
Strong Revenue Growth and Profitability
Infosys, a leading global provider of digital services and consulting, has released its financial highlights for the second quarter ended September 30, 2023. The company reported strong financial performance, with revenue, gross profit, and net profit all growing sequentially and year-on-year.
Revenue for the quarter totaled $4.12 billion, an increase of 4.2% sequentially and 13.5% year-over-year. Gross profit grew by 4.1% sequentially and 13.9% year-over-year to $2.37 billion. Net profit surged by 31.7% sequentially and 11.6% year-over-year to $1.11 billion.
Key Metrics
- Revenue: $4.12 billion (4.2% sequential growth, 13.5% year-over-year growth)
- Gross Profit: $2.37 billion (4.1% sequential growth, 13.9% year-over-year growth)
- Net Profit: $1.11 billion (31.7% sequential growth, 11.6% year-over-year growth)
- Headcount: 328,764 employees as of September 2023
- Dividend: Interim dividend of Rs 18 per share announced
The company attributed its strong performance to a combination of factors, including the ramp-up of new clients, increased demand for digital services, and cost optimization initiatives.
Infosys CEO Salil Parekh expressed optimism about the company's future prospects, saying, "Our performance in Q2 reflects the increasing demand for our digital transformation services. We remain focused on executing our strategy and delivering value to our clients."
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