Infosys sets Rs 9,300 crore share buyback; profit rises 11.1%

Infosys Ltd, India’s second-largest IT services company, has reported a consolidated net profit of Rs 6,021 for the quarter ended September 30, 2022, up 11.1 per cent from Rs 5,421 core reported in the same quarter of the previous year.

The company has also announced a share buyback worth Rs 9,300 crore along with an interim dividend of Rs 16.5 per share. The company’s revenue from operations stood at Rs 36,538 crore, clocking a 23.4 per cent growth over Rs 29,602 crore in the Q2FY22, the company said.

The company has set the maximum buyback price at Rs 1,850, a premium of 30 per cent over the last closing price. The buyback will be carried through the open market route.