Big blow to Narayana Murthy as tax authority fines Infosys Rs 6600000 over…

Infosys fined over Rs 66 lakh in Singapore for delay in GST payment

Infosys has disclosed in a regulatory filing that the Inland Revenue Authority of Singapore has levied a penalty of 97,035 Singapore dollars (over Rs 66 lakh) on the company. The order was conveyed to Infosys on August 13.

According to data shared by Infosys on late Wednesday evening, the Inland Revenue Authority of Singapore, which administers and collects taxes, has levied the penalty of 97,035.9 SGD, which pertains to “Singapore GST payment for the period April 2025 to June 2025”.

“There is no material impact on financials, operations or other activities of the company,” Infosys said.

Infosys Profit Drops In Q1

In the June quarter, Infosys posted a net profit of Rs 6,921 crore, which was a 1.6% decline from the previous quarter, while revenue grew 3.3% sequentially to Rs 42,279 crore.

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The company was also boosted by deal wins totalling $3.8 billion in the period, the company revised the lower end of its full-year revenue growth guidance to 1%, up from its earlier projection of zero growth.

The IT company’s stock gained by around 1.50 per cent during intraday trade to Rs 1,448.00, its biggest single-day rise was Rs 1470.00 at stock market closure.

(With Inputs From PTI)