The leading IT company closed up by 1.3 percent Rs 1,457.30 from its previous close of Rs 1,439. The aftermarket session company announced their strategic partnership.
According to the filing, Infosys and TK Elevator declared a strategic partnership to modernize, harmonize, and consolidate TK Elevator’s digital environment. In order to deliver a user-centric, business outcome-driven solution, Infosys will make use of Infosys Topaz and its AI-first strategy.
The collaboration includes the existing Service Desk, Data Center, Cloud, LAN, and Workplace, as well as SD-WAN operations and transformation. The partnership aims to support TK Elevator in staying one step ahead of a changing and cutthroat market.
The company has reported its net revenue rose 6.7 percent year on year from Rs 36,538 crores in Q2FY23 to Rs 38,994 crores in Q2FY24. On a quarter-on-quarter basis, their revenue increased 2 percent from Rs 37,933 crore in Q1FY24 to current levels.
In addition, net profit rose 3 percent year on year, from Rs 6,021 crores in Q2FY23 to Rs 6,212 crores in Q2FY24. On a sequential basis, their net profit rose by 4.4 percent from Rs 5,945 crores in Q1FY24 to current levels.
The company’s promoters hold a 14.8 percent stake in the company, with 33.5 percent owned by foreign institutional investors, 16.1 percent owned by the general public, and 35.3 percent owned by domestic institutional investors.
Infosys IT Software Company is a large-cap company with a market capitalization of Rs 5,97,242 crores. It also has a return on equity (ROE) of 32 percent and a return on capital employed (ROCE) of 44 percent.
The share price of Infosys has increased by 12.1 percent in the last six months.
Infosys Ltd helps customers implement strategies for their digital transformation by offering technology, outsourcing, consulting, and next-generation digital services. In India, it ranks as the second-biggest IT company after TCS.
Written by Sriram KV
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