Five-month-old boy Ekagrah Rohan Murty, grandson of Infosys Founder NR Narayana Murthy, is set to earn Rs 4.2 crore as the IT giant announced a final dividend and a special dividend on April 18.
While announcing the company’s Q4 numbers, Infosys declared a total dividend of Rs 28 on Thursday, including a final dividend of Rs 20 and a special dividend of Rs 8.
The record date for the payment of the final dividend and a special dividend has been fixed at May 31, while the payment will be made on July 1.
Last month, Narayana Murthy had gifted shares worth over Rs 240 crore to Ekagrah.
Ekagrah had acquired 15 lakh shares, or 0.04%stake, in India’s second-largest information technology services company. Considering the overall Rs 28 dividend, Ekagrah will earn Rs 4.2 crore.
Post this acquisition, Murthy’s share in Infosys reduced to 0.36%from 0.40 percent, or over 1.51 crore shares. The mode of transaction was “off-market”. However, Ekagrah’s overall value of Infosys shares declined by Rs 30 crore as they fell roughly Rs 200 apiece since he was gifted them. On April 19 at 11:15 am, Infosys shares were trading 1.2% lower at Rs 1,402.4 apiece.
In November 2023, Murthy and his wife, author-philanthropist Sudha Murty, became grandparents after their son Rohan Murty and wife Aparna Krishnan welcomed a baby boy. The newborn is the third grandchild of the Murthys, who are grandparents to the two daughters of UK’s First Lady Akshata Murty.
On April 18, Infosys posted a 30 per cent year-on-year jump in its net profit to Rs 7,969 crore for the fourth quarter ended March 2024 quarter. However, its revenues during January-March 2024 rose just 1.3 per cent YoY to Rs 37,923 crore, compared with Rs 37,441 crore a year ago.
Infosys’ net profit had stood at Rs 6,128 crore in the corresponding quarter last year.
On a year-on-year basis, Infosys’ revenue declined 2.3 per cent during the March 2024 quarter to Rs 37,923 crore, against Rs 38,821 crore in the previous December 2023 quarter. Its net profit jumped 30.5 per cent sequentially.
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