July 13: Technology major Infosys has announced 1:1 bonus share for its investors. The board meeting of the company held today approved issue of one free share for every share held by the investor. The IT major reported a consolidated net profit of Rs 3,612 crore in the first quarter (Q1), up 3.7 per cent in comparison with Rs 3,483 crore in the year-ago period. The company’s revenue from operations increased 12 per cent to Rs 19,128 crore.
The board also appointed Michael Gibbs as an independent director effective from July 13 for a period of three years, subject to the approval of the shareholders.
“The strong revenue and margin performance in this quarter shows dual emphasis on agile digital and AI (artificial intelligence) driven core services is resonating with our clients,” Salil Parekh, CEO and MD of the company said. Infosys had reported a net profit of Rs 3,690 crore, up 2.4 per cent, in the previous quarter on year-on-year (yoy) basis.