Infosys Q2 results beat street: Net profit up 10% at Rs 6,021 crore; co announces Rs 9,300 crore share buyback

Infosys on Thursday reported a strong, double digit growth of 11.1 percent on-year in net profit for the fiscal second quarter, beating street estimates. The net profit came in at Rs 6,021 crore, as compared to Rs 5,421 crore in the same period previous year. The information technology behemoth’s board of directors also approved the buyback proposal for the fully paid-up equity shares of the face value of Rs 5. The fourth buyback since 2017 aggregates to Rs 9,300 crore, Infosys said while announcing its Q2 earnings. The consolidated revenue in constant currency terms was reported at Rs 36,538 crores, reflecting a spike of 23.4 per cent on-year. Analysts from several brokerage firms had projected a 23-24 per cent on-year rise in the consolidated revenue, while a 6-9 per cent rise on-year for net profit.