The net profit of IT major surged by 30 per cent YoY to Rs 7,969 crore, the company informed stock exchanges in its quarterly-earning data released in April
Our Bureau
Bengaluru/Sydney
Infosys collaborated with Telstra, Australia’s telecommunications and technology company, on Thursday for an AI-led engineering transformation of Telstra. The collaboration aims to accelerate Telstra’s software engineering and IT transformation journey while enhancing customer experience, the company informed the exchange in a filing.
“Telstra and Infosys stand as trailblazers in technological innovation, united by a shared vision. This collaboration underscores our commitment to delivering innovative cloud and AI-led solutions that will help position Telstra as a leader in this new era,” said Anand Swaminathan, Executive Vice President and Global Industry Leader, Communications, Media, and Technology, Infosys.
By leveraging Infosys’s AI-first suite of offerings, known as ‘Infosys Topaz’, and its cloud suite of offerings called ‘Infosys Cobalt’, Telstra seeks to simplify its technology landscape and continue its transformation into an innovation-led enterprise.
“By leveraging Infosys Cobalt and Infosys Topaz, we can help Telstra accelerate its strategy for growth” said Salil Parekh, Chief Executive Officer, Infosys.
Through this partnership, Infosys will introduce modern product engineering practices to elevate both customer and employee experience within Telstra. The goal is to provide Telstra with a robust engineering backbone that supports its innovation goals and facilitates its ongoing transformation.
“Consumers around the world have significantly increased their expectations when it comes to the seamless, digital delivery of their products and services. As we approach the tipping point of Generative AI and an avalanche of digital adoption, strategic partnerships with global leaders such as Infosys are critical to support our shared ambitions for digital leadership” said Kim Krogh Andersen, Group Executive, Product and Technology, Telstra.
Infosys Topaz, the AI-first suite of offerings, will enable Telstra to harness the power of artificial intelligence to drive efficiencies and innovation across its operations.
Meanwhile, Infosys Cobalt, the cloud suite of offerings, will provide Telstra with the necessary tools and capabilities to accelerate its journey to the cloud, enhancing agility and scalability.
Earlier, it was reported that the IT sector major reported a revenue growth of 1.3 per cent year-on-year (YoY) in the fourth quarter of just concluded financial year 2023-24, with revenues reaching Rs 37,923 crore. Moreover, the net profit of Infosys surged by 30 per cent YoY to Rs 7,969 crore, the company informed stock exchanges in its quarterly earning data released on Thursday.
Infosys also projected a growth trajectory for the fiscal year 2024-25 in a range of 1 to 3 per cent. The company also announced the acquisition approval of in-tech Holding GmbH, a prominent player in Engineering R&D services.
“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, said Salil Parekh, CEO and MD.
He further added “I would like to thank our 317,000 employees across the world that are working to create value for our clients.”
Furthermore, Infosys declared a dividend of Rs 28 per share, comprising a regular dividend of Rs 20 per equity share for the financial year ended March 31, 2024, along with an additional special dividend of Rs8 per equity share.
A dividend is a reward that companies often provide to their shareholders, though not mandatory, from a portion of their earnings.
The company also announced that its next 43rd Annual General Meeting of the Members of the Company will be held on Wednesday, June 26, 2024.
Infosys is a digital services and consulting company. With a workforce of more than 3,00,000, the IT firm has clients in more than 56 countries.
The shares of Infosys closed more than percent higher at Rs 1,429.50 on Thursday’s trading session before the announcement of Quarter 4 results by the company. In the last one year the company share has gained more than 16 percent on NSE.
