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Infosys Results: Latest Quarterly Results & Analysis

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Infosys Ltd. 23 Jul 2026 16:35 PM
Result PDF

Q1FY27 Quarterly Result Announced for Infosys Ltd.

IT Consulting & Software company Infosys announced Q1FY27 results

Consolidated Financial Highlights:

  • Revenue from operations: For Q1FY27, revenue stood at Rs 48,211 crore, representing a YoY increase of 14.0% compared to Rs 42,279 crore in Q1FY26 and a QoQ increase of 3.9% from Rs 46,402 crore in Q4FY26.
  • Total Income: The company reported total income of Rs 49,195 crore in Q1FY27, up 13.6% YoY from Rs 43,321 crore in Q1FY26 and 3.4% QoQ from Rs 47,561 crore in Q4FY26.
  • Net Profit: Consolidated net profit for Q1FY27 was Rs 7,775 crore, an increase of 12.3% YoY from Rs 6,924 crore in Q1FY26, but a decline of 8.6% QoQ from Rs 8,509 crore in Q4FY26.
  • Operating Margin: The operating margin was 21.1% in Q1FY27, which improved by 30 basis points (0.3%) YoY and 10 basis points (0.1%) QoQ.
  • Earnings Per Share (EPS): Basic EPS stood at Rs 19.19 in Q1FY27, reflecting a 14.9% YoY increase from Rs 16.70 in Q1FY26.

Standalone Financial Highlights:

  • Revenue from operations: Standalone revenue for Q1FY27 was Rs 39,957 crore, a 13.3% YoY increase from Rs 35,275 crore in Q1FY26 and a 3.4% QoQ increase from Rs 38,641 crore in Q4FY26.
  • Total Income: Standalone total income was Rs 40,831 crore in Q1FY27, up 12.9% YoY from Rs 36,157 crore in Q1FY26 and up 2.8% QoQ from Rs 39,704 crore in Q4FY26.
  • Net Profit: Standalone net profit stood at Rs 7,249 crore for Q1FY27, representing an 18.6% YoY growth from Rs 6,114 crore in Q1FY26, while declining 9.1% QoQ from Rs 7,975 crore in Q4FY26.

Business Highlights:

  • Large Deal Wins: Total Contract Value (TCV) of large deal wins in Q1FY27 reached USD 3.6 billion, with 61% being net new deals.
  • AI Performance: AI-related revenues accounted for 8.2% of the total revenue in Q1FY27.
  • Free Cash Flow (FCF): The company generated a robust consolidated FCF of USD 0.96 billion (Rs 9,051 crore) in Q1FY27, representing a conversion rate of 116.4% of net profit.
  • FY27 Guidance: Revenue growth guidance for FY27 was revised to 1.5%-3.0% in constant currency (CC) terms, while the operating margin guidance was retained at 20%-22%.
  • Acquisitions:
    • On April 21, 2026, the company acquired a 100% partnership interest in Stratus Global LLC (headquartered in the USA) for a consideration of USD 74 million (Rs 697 crore).
    • On May 4, 2026, the company acquired 100% voting interests in Optimum Achieve Holdings Inc. (headquartered in the USA) for a total consideration of USD 365 million (Rs 3,470 crore).
  • Leadership Transition: The Board appointed Ashiss Kumar Dash as CEO Designate effective July 23, 2026. He is planned to succeed Salil Parekh as CEO and Managing Director on April 1, 2027.
  • Segment-wise Revenue Performance (Q1FY27):
    • Financial Services: Rs 13,463 crore.
    • Manufacturing: Rs 7,668 crore.
    • Energy, Utilities, Resources and Services: Rs 6,452 crore.
    • Retail: Rs 6,172 crore.
    • Communication: Rs 5,791 crore.
    • Life Sciences: Rs 3,842 crore.
    • Hi-Tech: Rs 3,710 crore.
    • All other segments: Rs 1,113 crore.

Salil Parekh, CEO and MD, said: “AI momentum is now rapidly converting into revenue, which demonstrates how Infosys’ differentiated enterprise AI value proposition is translating into consistent market share gains. Strong large deal wins, powered by Infosys Topaz, reinforce client confidence in our ability to be the strategic partner of choice for AI transformation driving tangible business value.”

“With strategic partnerships established with all leading AI companies, we are bringing the power of the innovation ecosystem to help clients accelerate operational productivity and unlock growth opportunities. We remain committed to reskilling our employee base across levels and this sustained focus has positioned Infosys as a frontier organization with deep expertise accelerating AI journeys for some of the largest enterprises the world over”.

Jayesh Sanghrajka, CFO, said: "Our resilient margins of 21.1% and consistent strong cash generation reflect the strength of our business model, disciplined execution and continued focus on operational excellence in a challenging business environment.”

“We are accelerating investments in AI, talent, and platforms to drive future growth and remain committed to improving productivity, expanding operating leverage and maintaining the financial flexibility needed to capitalize on emerging opportunities while delivering sustainable shareholder value”, he added.

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IT Consulting & Software company Infosys announced Q3FY26 results

  • Revenues in CC terms grew by 1.7% YoY and 0.6% QoQ.
  • Reported revenues at Rs 45,479 crore, growth of 8.9% YoY.
  • Reported IFRS operating margin at 18.4%; Adjusted operating margin at 21.2%.
  • Reported IFRS Basic EPS at Rs 16.17; adjusted Basic EPS at Rs 18.53.
  • FCF at Rs 8,176 crore; adjusted FCF at Rs 8,626 crore; Adjusted FCF conversion at 113.1% of adjusted net profit.

Salil Parekh, CEO & MD, said: “Infosys delivered a strong Q3 performance demonstrating how our differentiated value propositions in enterprise AI, through Infosys Topaz, are consistently driving higher market share. Clients increasingly view Infosys as their AI partner with demonstrated expertise, innovation capabilities and strong delivery credentials. This has helped them unlock business potential and enhanced value realization”

“Central to this journey is our commitment to reskill, transform and empower our dedicated human resource pool to drive success in an AI augmented world”

Jayesh Sanghrajka, CFO, said: “Our performance was broad-based in Q3 with 0.6% sequential revenue growth, 0.2% adjusted operating margin expansion, stellar large deal wins at USD 4.8 billion and robust adjusted free cash generation at USD 965 million in a seasonally weak quarter”

“In line with our capital allocation policy, we successfully completed the largest ever buyback of Rs 18,000 crore and paid out interim dividend to shareholders.”

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IT Consulting & Software company Infosys announced Q2FY26 results

  • Revenues in CC terms grew by 2.9% YoY and 2.2% QoQ.
  • Reported revenues at Rs 44,490 crore, growth of 8.6% YoY.
  • Operating margin at 21.0%, decline of 0.1% YoY and growth of 0.2% QoQ.
  • Basic EPS at Rs 17.76, growth of 13.1% YoY.
  • FCF at Rs 9,677 crore, growth of 38.0% YoY; FCF conversion at 131.2% of net profit.

Salil Parekh, CEO and MD, said: “We have now delivered two consecutive quarters of strong growth, demonstrating our unique market positioning and client relevance. Strong deal wins, with 67% net new in Q2, reflect our deep understanding of clients’ priorities to deliver value from AI in this environment.”

“Our proactive investments, over the last three years, in embracing an AI-first culture within Infosys has ensured that our people are reskilled to thrive in a human AI workplace. Infosys Topaz’s differentiated value proposition is unlocking value at scale in every transformation program.”

Jayesh Sanghrajka, CFO, said: We had robust all-round performance in Q2 - strong growth, resilient margins, very high cash generation and 13.1% EPS growth year on year in rupee terms. We continue to make strategic investments to futureproof the business with a tight focus on execution, amidst high uncertainty.”

“In line with our Capital Allocation Policy, we have announced a share buyback for Rs 18,000 crore during the quarter and an interim dividend of Rs 23 per share, an increase of 9.5% over last fiscal.”

Result PDF

IT Consulting & Software company Infosys announced Q1FY26 results

  • Revenues in CC terms grew by 3.8% YoY and by 2.6% QoQ.
  • Reported revenues at Rs 42,279 crore, growth of 7.5% YoY.
  • Operating margin at 20.8%, decline of 0.3% YoY and decline of 0.2% QoQ.
  • Basic EPS at Rs 16.70, increase of 8.6% YoY.
  • FCF at Rs 7,533 crore, decline of 17.7% YoY; FCF conversion at 108.8% of net profit.

Jayesh Sanghrajka, CFO, said: “Q1 performance is a clear reflection of our unwavering focus on multiple fronts resulting in strong growth at 2.6% QoQ, resilient margins at 20.8% and EPS increase of 8.6% YoY. We continue to leverage Project Maximus to make investments in strategic priorities to drive profitable growth and enhance shareholder value.”

“Cash flow conversion was well above 100% for the fifth consecutive quarter. The impact of currency volatility was effectively managed through our proactive hedging strategy.”

Salil Parekh, CEO & MD, said: "Our performance in Q1 demonstrates the strength of our enterprise AI capabilities, the success in client consolidation decisions, and the dedication of our over 300,000 employees.”

“Our large deal wins of USD 3.8 billion reflect our distinct competitive positioning and deep client relationships.”

Result PDF

IT Consulting & Software company Infosys announced Q4FY25 & FY25 results

Q4FY25 Financial Highlights:

  • Revenues in CC terms grew by 4.8% YoY and declined by 3.5% QoQ.
  • Reported revenues at Rs 40,925 crore, growth of 7.9% YoY.
  • Operating margin at 21.0%, increase of 0.9% YoY and decline of 0.3% QoQ.
  • Basic EPS at Rs 16.98, decline of 11.8% YoY.
  • FCF at Rs 7,737 crore, growth of 10.0% YoY; FCF conversion at 109.9% of net profit.

FY25 Financial Highlights:

  • Revenues in CC terms grew by 4.2% YoY.
  • Reported revenues at Rs 1,62,990 crore, growth of 6.1% YoY.
  • Operating margin at 21.1%, growth of 0.5% YoY.
  • Basic EPS at Rs 64.50, growth of 1.8% YoY.
  • FCF at Rs 34,549 crore, growth of 44.8% YoY; FCF conversion at 129.2% of net profit.

Salil Parekh, CEO & MD, Infosys, said: "We have built a resilient organization with sharp focus on client-centricity and responsiveness to the market, thanks to the trust of our clients and dedication of our employees. Our performance for the year has been robust in terms of revenues, expansion in operating margins and highest ever free cash generation.”

“Our depth in AI, cloud and digital and strength in cost efficiency, automation, and consolidation position us well for the needs of our clients”

Jayesh Sanghrajka, CFO, Infosys, said: "FY25 operating margins expanded by 0.5% which reflects our relentless focus on identifying opportunities for efficiency and executing Project Maximus with discipline, after navigating through multiple headwinds in a challenging macro environment. We delivered the highest ever free cash flows in the history of the company in FY25.”

"The Board has proposed a final dividend of Rs 22, which along with the interim dividend, is an increase of 13.2% over last year."

Result PDF

IT Consulting & Software company Infosys announced 9MFY25 & Q3FY25 results

Q3FY25 Financial Highlights:

  • Revenues in CC terms grew by 6.1% YoY and 1.7% QoQ.
  • Reported revenues at Rs 41,764 crore, growth of 7.6% YoY.
  • Operating margin at 21.3%, increase of 0.8% YoY and 0.2% QoQ.
  • Basic EPS at Rs 16.43, growth of 11.4% YoY.
  • FCF at Rs 10,647 crore, growth of 91.9% YoY; FCF conversion at 156.1% of net profit.

9MFY25 Financial Highlights:

  • Revenues in CC terms grew by 3.9% YoY.
  • Reported revenues at Rs 122,064 crore, growth of 5.5% YoY.
  • Operating margin at 21.2%, growth of 0.3% YoY.
  • Basic EPS at Rs 47.52, growth of 7.7% YoY.
  • FCF at Rs 26,812 crore, growth of 59.3% YoY; FCF conversion at 136.0% of net profit.

Salil Parekh, CEO and MD, Infosys, said: .“Our strong revenue growth sequentially in a seasonally weak quarter and broad-based year on year growth, along with robust operating parameters and margins, is a clear reflection of the success of our differentiated digital offerings, market positioning, and key strategic initiatives. We continue to strengthen our enterprise AI capabilities, particularly focusing on generative AI, which is witnessing increasing client traction.”

“This has led to another quarter of strong large deal wins and improved deal pipeline giving us greater confidence as we look ahead.'

Jayesh Sanghrajka, CFO, Infosys, said: “We had another quarter of strong performance with revenue growth across segments and operating margin expansion, leading to 11.4% EPS growth year on year in rupee terms. Our structured approach to operating margin expansion yielded more results in Q3, particularly due to benefits from improving realization and scale benefits.”

“Our sharp focus on cash flow is reflected in Free cash conversion to net profits of 157% in Q3FY25 with free cash generation for 9 months of FY25 surpassing that of entire FY24”

Result PDF

IT Consulting & Software company Infosys announced H1FY25 & Q2FY25 results

Q2FY25 Financial Highlights:

  • Revenues in CC terms grew by 3.3% YoY and 3.1% QoQ.
  • Reported revenues at Rs 40,986 crore, growth of 5.1% YoY.
  • Operating margin at 21.1%, decline of 0.1% YoY and flat QoQ.
  • Basic EPS at Rs 15.71, growth of 4.7% YoY.
  • FCF at Rs 7,010 crore, growth of 26.6% YoY; FCF conversion at 107.6% of net profit.

H1FY25 Financial Highlights:

  • Revenues in CC terms grew by 2.9% YoY.
  • Reported revenues at Rs 80,300 crore, growth of 4.4% YoY.
  • Operating margin at 21.1%, growth of 0.1% YoY.
  • Basic EPS at Rs 31.09, growth of 5.8% YoY.
  • FCF at Rs 16,165 crore, growth of 43.2% YoY; FCF conversion at 125.4% of net profit.

Salil Parekh, CEO and MD, Infossys said: “We had strong growth of 3.1% quarter-on-quarter in constant current in Q2. The growth was broad based with good momentum in financial services. This stems from our strength in industry expertise, market leading capabilities in cloud with Cobalt and generative AI with Topaz, resulting in growing client preference to partner with us. Our large deals at $2.4 billion in Q2 reflect our differentiated position. I am grateful to our employees for their unwavering commitment to our client as we further strengthen our market leadership”.

Jayesh Sanghrajka, CFO, Infosys said: “We continue to focus on accelerating revenue growth with a sharp focus on margin performance. Operating margins for the quarter was at 21.1%, driven by continued benefits from value-based pricing and utilization despite higher employee payouts. Our focus on cash generation resulted in another quarter of over 100% Free Cash Flow conversion to net profits”.

Result PDF

IT Consulting & Software company Infosys announced Q1FY25 results:

  • Revenues in CC terms grew by 2.5% YoY and by 3.6% QoQ
  • Reported revenues at Rs 39,315 crore, growth of 3.6% YoY
  • Operating margin at 21.1%, growth of 0.3% YoY and 1.0% QoQ
  • Basic EPS at Rs 15.38, increase of 7.0% YoY
  • FCF at Rs 9,155 crore, growth of 59.2% YoY
  • FCF conversion at 143.6% of net profit

Speaking on the results, Salil Parekh, CEO and MD, said: “We had an excellent start to FY25 with strong and broad-based growth, operating margin expansion, robust large deals, and highest ever cash generation. This is a testimony to our differentiated service offerings, enormous client trust, and relentless execution”.

“With our focused approach for generative AI for enterprises working with their data sets on a cloud foundation, we have strong traction with our clients. This is building on our Topaz and Cobalt capabilities” he added.

Speaking on the results, Jayesh Sanghrajka, CFO, said: “Our relentless drive on cost optimization through Project Maximus, a comprehensive margin expansion program, is reflected in the all-round improvement in key operating metrices leading to 1.0% growth in operating margin in Q1”.

“We had the highest ever FCF generation at USD 1.1 billion and ROE increased to 33.6% due to higher payouts to investors”, he added.

Result PDF

IT Consulting & Software company Infosys announced Q4FY24 & FY24 results:

Q4FY24 Financial Highlights:

  • Reported revenues were Rs 37,923 crore, reflecting a growth of 1.3% YoY, declined 2% QoQ.
  • Revenues remained flat YoY in constant currency (CC) terms.
  • Operating margin was 20.1%, marking a decline of 0.9% YoY and 0.4% QoQ.
  • Basic earnings per share (EPS) stood at Rs 19.25, showing an increase of 30.2% YoY.
  • FCF amounted to Rs 7,032 crore, demonstrating a growth of 20.3% YoY.
  • FCF conversion was at 88.2% of net profit.

FY24 Financial Highlights:

  • Reported revenues reached Rs 1,53,670 crore, indicating a growth of 4.7% YoY.
  • Revenues grew by 1.4% YoY in constant currency (CC) terms.
  • Operating margin for the year was 20.7%, down by 0.4% YoY.
  • Basic EPS for the year was Rs 63.39, showing an increase of 10.0% YoY.
  • FCF amounted to Rs 23,865 crore, demonstrating a growth of 16.7% YoY.
  • FCF conversion was at 90.9% of net profit.

“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.

“I would like to thank our 3,17,000 employees across the world that are working to create value for our clients.” he added.

“Free cash flow of $848 million in Q4 was highest in the last 11 quarters driven by our relentless focus to improve working capital cycle. Consistent with the objective of giving high and predictable returns to shareholders, the Board has approved the capital allocation policy under which the company expects to return 85% over the next 5 years and progressively increase annual Dividend Per Share”, said Jayesh Sanghrajka, CFO.

“Operating margin expansion in the medium-term and improving cash generation continue to remain our priorities underpinned by early success in Project Maximus”, he added.

Result PDF

IT Consulting & Software company Infosys announced Q3FY24 & 9MFY24 results:

  • Q3FY24:

    • Revenues in CC terms declined by 1.0% YoY and QoQ
    • Reported revenues at Rs 38,821 crore, growth of 1.3% YoY
    • Operating margin at 20.5%, a decline of 1.0% YoY and 0.7% QoQ
    • Basic EPS at Rs 14.76, a decline of 6.1% YoY
    • FCF at Rs 5,548 crore, growth of 17.0% YoY; FCF conversion at 90.8% of net profit

  • 9MFY24:

    • Revenues in CC terms grew by 1.8% YoY
    • Reported revenues at Rs 1,15,748 crore, growth of 5.9% YoY
    • Operating margin at 20.8%, decline of 0.2% YoY
    • Basic EPS at Rs 44.13, growth of 3.0% YoY
    • FCF at Rs 16,833 crore, growth of 15.3% YoY; FCF conversion at 92.1% of net profit

“Our performance in Q3 was resilient. Large deal wins were strong at $3.2 billion, with 71% of this as net new, reflecting the relevance and strength of our portfolio of offerings ranging from generative AI, digital and cloud to cost, efficiency and automation” said Salil Parekh, CEO and MD.

“Our clients are leveraging our Topaz generative AI capabilities and our Cobalt cloud capabilities to create long-term value for their businesses”, he added.

“Q3 performance is a demonstration of our strong execution capabilities reflected in improved operational efficiencies achieved under ‘Project Maximus’, despite a challenging environment”, said Nilanjan Roy, Chief Financial Officer.

“Cash generation remained robust with FCF to net profit conversion for Q3 at 90.6%”, he added.

 

 

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