Read the quarter in context.
A source-linked quarter view: reported numbers, management language, guidance, and the risks that should carry forward.
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Revenue
₹40,925 Cr
verified against source
Revenue YoY
—
reported change
EBITDA
Pending
latest reported figure
Source
screener in
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Infosys reported FY25 constant currency growth of 4.2% with operating margin of 21.1% and large deal TCV of $11.6 billion. The company guided FY26 revenue growth of 0%-3% CC and margin of 20%-22%, reflecting heightened uncertainty from tariff and macro headwinds. Management noted no immediate deal cancellations or ramp-downs, but baked in deterioration at the lower end of guidance. AI-led transformation is gaining traction with over 200 agents deployed, and the company plans to hire 20,000+ freshers. Key risks include potential client budget cuts and prolonged uncertainty impacting discretionary spending.
Colored figures show movement against the previous available record.
Guidance to track
- Management expects revenue growth between 0% and 3% in constant currency for FY26, with bottom end assuming deterioration and top end steady improvement.
- Operating margin expected to remain in the 20%-22% band, with an endeavor to improve from FY25's 21.1%.
- Infosys intends to hire over 20,000 campus recruits during FY26, consistent with prior year levels.
Risks flagged
- Management cited heightened uncertainty from recent tariff changes and economic outlook, which could impact client spending and deal flow.
- Analysts questioned whether large deals could take longer to materialize due to uncertainty; management acknowledged the risk but noted no visible changes yet.
- Clients are increasingly demanding productivity benefits and cost takeout, which could pressure pricing and margins.
Key quotes
- We feel the performance has been solid all around across the year.
- At the bottom end of the guidance, we have baked in some deterioration in the environment, some heightened uncertainty.
- We have not seen a change in that. However, the guidance has factored in what we anticipate in different scenarios because all of this is happening in the last few days.
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