Infosys's five month old millionaire shareholder, Ekagrah!

The Co- Founder of Infosys and billionaire businessman NR Narayan Murthy’s grandson Ekagrah becomes one of the youngest millionaire of India as he bags an impressive and remarkable gift from his grandfather. As Infosys announces its final and special dividend amounting to Rs 28. Ekagrah stands to earn Rs 4.20 crore. This also makes him the youngest millionaire shareholder of India’s second-largest IT company. Earlier, he had got 15 lakh shares of the country’s second-largest IT firm from his granfather Murthy.

On Thursday, Infosys announced a 30% year-on-year increase in its net profit. In its Q4 for FY23- FY24 earnings release, its board proposed a final dividend of Rs 20 per share, along with a special dividend of Rs 8 per share for the FY24. The company stated that this brings the total payout for FY20-FY24 to 85% of free cash flow, aligning with its previously outlined capital allocation policy.

Ekagrah Rohan Murty, the third grandchild of Narayana Murthy and Sudha Murthy, joins Krishna and Anoushka as their other grandchildren. Krishna and Anoushka are the daughters of Akshata Murty and UK Prime Minister Rishi Sunak.

Infosys’s Q4 FY24 Data-

In the January to March quarter, Infosys exceeded market expectations by achieving a 30% year-on-year increase in net profit, rising from ₹6,134 crore to ₹7,975 crore. Additionally, the company saw a moderate 1.3% increase in revenue from operations during the same quarter, reaching ₹37,923 crore.

Infosys has provided information that the record date for distribution of the final dividend and special dividend is May 31, 2024. The dividends are scheduled to be paid out on July 1, 2024.

(With inputs from PTI)