Infy / Q3-FY26

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Positive2026-01-12Back to INFY

Revenue

₹45,479 Cr

verified against source

Revenue YoY

1.7%

reported change

EBITDA

Pending

latest reported figure

Source

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record provenance

Actual signal trajectory

Where this quarter sits.

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Revenue (₹ Cr)PositiveWatchNegative
12 actual records
Actual quarterly Revenue (₹ Cr) trajectoryReported values plotted by quarter. Hover or focus a point for its quarter, value, and source sentiment.Q1 FY24: 37,933 · Watch source sentiment · 2023-07-20Q1 FY24Q2 FY24: 38,994 · Watch source sentiment · 2023-10-12Q2 FY24Q3 FY24: 38,821 · Watch source sentiment · 2024-01-11Q3 FY24Q4 FY24: 37,923 · Watch source sentiment · 2024-04-18Q4 FY24Q1 FY25: 39,315 · Positive source sentiment · 2024-07-18Q1 FY25Q2 FY25: 40,986 · Positive source sentiment · 2024-10-17Q2 FY25Q3 FY25: 41,764 · Positive source sentiment · 2025-01-16Q3 FY25Q4 FY25: 40,925 · Watch source sentiment · 2025-04-17Q4 FY25Q1 FY26: 42,279 · Positive source sentiment · 2025-07-10Q1 FY26Q2 FY26: 44,490 · Positive source sentiment · 2025-10-16Q2 FY26Q3 FY26: 45,479 · Positive source sentiment · 2026-01-12Q3 FY26Q4 FY26: 46,402 · Watch source sentiment · 2026-04-15Q4 FY2646,40237,923
Values are taken from the available verified source records; sentiment color is a separate source-read indicator.

Quarter read

What the record says.

Infosys delivered a strong Q3 FY26 with constant currency revenue growth of 1.7% YoY and adjusted operating margin of 21.2%, expanding 20 bps sequentially. Large deal TCV was robust at $4.8 billion with 57% net new, including a $1.6B NHS deal. The company raised FY26 revenue guidance to 3%-3.5% (from 2%-3%), while maintaining margin guidance of 20%-22%. Growth was driven by Financial Services and Energy/Utilities, where discretionary spending is returning and AI adoption is accelerating. Management sees FY27 growth acceleration in these two verticals. AI momentum is strong with 4,600 projects and 500 agents built. Risks include tariff uncertainties impacting Manufacturing and Retail, and potential compression in legacy services due to AI-led productivity.

Colored figures show movement against the previous available record.

Guidance to track

  • Infosys raised its constant currency revenue growth guidance for FY26 from 2%-3% to 3%-3.5%.
  • Operating margin guidance remains unchanged at 20%-22% for FY26.
  • Management expects growth in Financial Services and Energy, Utilities, Resources, and Services verticals to accelerate in FY27 over FY26.

Risks flagged

  • Manufacturing and Retail/CPG verticals are impacted by tariff uncertainties, delaying client decisions and pressuring discretionary spend.
  • AI-driven productivity benefits may compress legacy service revenues, though management sees net positive from new AI opportunities.
  • Analyst raised concerns about press reports of Daimler moving away; management noted current contracts valid till Dec 2026 but did not provide specifics.

Key quotes

  • We are witnessing six AI-led value pools emerging that could unlock a large incremental opportunity for us.
  • Our adjusted operating margins increased by 20 basis points sequentially to 21.2%.
  • We are now a preferred AI partner for top 15 out of 25 banking clients.

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