Infosys, India's second-largest IT services provider, reported a consolidated profit of Rs 7,969 crore for the final quarter of FY24, compared to Rs 6,128 crore in the same quarter in FY23. The company's revenue for the March quarter stood at Rs 37,923 crore, marking a 1.3% year-on-year increase over the Rs 37,441 crore in Q4FY23.
Anticipating revenue growth ranging from 1% to 3% in constant currency for fiscal year 2025, Infosys announced a final dividend of Rs 28 per share for FY24, which included a special dividend of Rs 8 per equity share.
The total dividend payout for Infosys shareholders for FY24 amounts to Rs 63.5 per share, including the earlier declared dividends. The record date for the payment of final dividend and special dividend is May 31, 2024, with the dividends scheduled to be paid on July 1, 2024.
Infosys shares closed at Rs 1,429.50 on the NSE, marking an increase of Rs 15.05 or 1.06% following the announcement. Despite experiencing an 8% fall earlier this year, the stock seems to have found support around Rs 1,350, with resistance at Rs 1,500. Market analysts caution a cautious approach, noting the stock's underlying bearish trend and notable short positioning ahead of the results, with Open Interest (OI) up by 16% while the stock itself experienced a 2% decline, as per domestic brokerage Emkay Global.
