Infosys Q2 net profit rises 11%, announces Rs 9,300-cr share buyback

The company's consolidated revenue from operations rose 23% to Rs 36,538 crore in Q2FY23; floor price for share buyback set at Rs 1,850 per share

India's second largest IT services company Infosys on Thursday posted better-than-expected 11 per cent rise in consolidated net profit at Rs 6,021 crore for the September quarter and announced buyback of shares worth Rs 9,300 crore.

The Bengaluru-headquartered company raised its FY23 revenue growth guidance to 15-16 per cent, pushing the forecast towards the higher end of previously-projected 14-16 per cent band, bouyed by "strong large deals pipeline" and good demand momentum despite global macroeconomic concerns.

Infosys board has also declared an interim dividend of Rs 16.50 per share. The interim dividend payout will be about Rs 6,940 crore, the company said