Narayana Murthy’s Grandson Ekagrah Makes ₹4.2 Crore from Infosys Dividend in 5 Months

Infosys, India’s second-largest IT company, announced a dividend of ₹28 per share after releasing its Q4FY24 results on Thursday. This decision made Ekagrah Rohan Murty, the five-year-old grandson of Infosys founder N R Narayana Murthy, richer by ₹4.2 crore in a day.

The young Ekagrah became one of India’s youngest millionaires when his grandfather gifted him 15 lakh Infosys shares a month ago. With the recent dividend announcement, Ekagrah’s stake in the IT company is now worth at least ₹210 crore at the current share price of ₹1,400.

During the January to March quarter, Infosys reported a 30% year-on-year increase in net profit, reaching ₹7,975 crores. The company also declared a final dividend of ₹20 along with a special dividend of ₹8, totaling ₹28. CEO and MD Salil Parekh highlighted the company’s achievements in Generative AI and client trust in their services.

In the fiscal year 2024, Infosys experienced a significant reduction in headcount, marking the first decline since 2001. The total number of employees decreased by 7.5% compared to the previous year. CFO Jayesh Sanghrajka attributed this to increased utilization rates and decreased attrition within the company.

Shares of Infosys were trading slightly lower at ₹1,416.75 apiece on Friday afternoon following the dividend declaration. The company’s focus on innovation and growth in key areas like Generative AI has contributed to its success in the market.