Narayana Murthy’s 5-month-old grandson Ekagrah earned ₹4.2 crore after Infosys declared ₹28 dividend

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India’s second-largest information technology company Infosys declared a dividend of   28 per share. after it released its Q4FY24 results on Thursday, making  its founder N R Narayana Murthy’s grandson richer by 4.2 crore in a day.

Infosys  posted a 30 % year-on-year jump in its net profit on Thursday, after which it declared a final dividend of 20 and a special dividend of 8, i.e. a total dividend of 28. 

Ekagrah Rohan Murty, the five-year-old grandson of Infosys founder Narayana Murthy became one of India’s youngest millionaires after his grandfather gifted him 15 lakh Infosys shares a month ago. The announcement of a 28 dividend made him richer by an additional 4.2 crore on Thursday. 

Ekagrah Rohan Murty, the son of Narayana Murthy’s son Rohan Murthy and daughter-in-law Aparna Krishnan owns 0.04% of Infosys and his stake in the IT company is worth at least 210 crore, at the current share price range of 1,400. 

Infosys Q4 results 

During the January to March quarter, Infosys net profit surpassed market expectations to record a 30% YoY jump from 6,134 crores to 7,975 crores. The revenue from operations of the company witnessed a moderate jump of 1.3% during the quarter at 37,923 crore. 

“We delivered the highest ever large deal value in the financial year 2024. This reflects the strong trust clients have in us. Our capabilities in Generative AI continue to expand. We are working on client programs, leveraging large language models with impact across software engineering, process optimization, and customer support,”  Salil Parekh, CEO and MD, of Infosys, said.

In the fiscal year of 2024, Infosys experienced a notable reduction in headcount, marking the first decline since 2001. The overall number of employees stood at 317,240, reflecting a decrease of 25,994 individuals, which indicates a 7.5% reduction from the year-ago period. 

Sequentially, Infosys saw a consistent decrease in employee numbers for the fifth consecutive quarter, with 5,423 fewer employees added.

“When we started, we were at 77 percent utilization including the trainees. The growth environment was different at that time. Our utilization has gone up from 82% to 83%. Our attrition has also come down significantly. That is the reason for net headcount reduction,” explained CFO Jayesh Sanghrajka.

Shares of Infosys were trading 0.18% down at 1,416.75 apiece in afternoon trade on Friday. 

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Published: 19 Apr 2024, 02:33 PM IST

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