Infosys

Revenue up 13% YoY to Rs 46402 crore in Q4FY2026

On consolidated basis

Quarter ended March 2026 compared with Quarter ended December 2025.

Net sales (including other operating income) of Infosys has increased 2.03% to Rs 46402 crore.  

Operating profit margin has jumped from 23.38% to 24.07%, leading to 5.01% rise in operating profit to Rs 11,167.00 crore.  Employee cost increased from 53.04% to 53.20%.   Other expenses fell from 23.58% to 22.73%.   Selling and administration expenses rose from 2.54% to 2.87%.   Software technology development services cost fell from 17.75% to 17.07%.   

Other income rose 1.76% to Rs 1159 crore.  PBIDT rose 4.70% to Rs 12326 crore.  Provision for interest rose 5% to Rs 105 crore.  Loan funds rose to Rs 9,176.00 crore as of 31 March 2026 from Rs 8,796.00 crore as of 31 December 2025.  Sundry debtors were lower at Rs 35,234.00 crore as of 31 March 2026 compared to Rs 36,131.00 crore as of 31 December 2025.  Cash and bank balance rose to Rs 22,201.00 crore as of 31 March 2026 from Rs 19,915.00 crore as of 31 December 2025.  Investments rose to Rs 21,880.00 crore as of 31 March 2026 from Rs 15,810.00 crore as of 31 December 2025 .  

PBDT rose 4.69% to Rs 12221 crore.  Provision for depreciation rose 23.29% to Rs 1424 crore.  Fixed assets increased to Rs 19,354.00 crore as of 31 March 2026 from Rs 18,943.00 crore as of 31 December 2025.  Intangible assets increased from Rs 14,707.00 crore to Rs 14,942.00 crore.  

Profit before tax grew 2.65% to Rs 10,797.00 crore.  Share of profit/loss were nil in both the periods.  Provision for tax was expense of Rs 2288 crore, compared to Rs 2563 crore.  Effective tax rate was 21.19% compared to 27.77%.

Minority interest decreased 33.33% to Rs 8.00 crore.  Net profit attributable to owners of the company increased 27.76% to Rs 8,501.00 crore.  

Equity capital stood at Rs 2,024.00 crore as of 31 March 2026 to Rs 2,024.00 crore as of 31 December 2025.  Per share face Value remained same at Rs 5.00.  

Promoters? stake was 13.30% as of 31 March 2026 ,compared to 13.31% as of 31 December 2025 .  

 Quarter ended March 2026 compared with Quarter ended March 2025.

Net sales (including other operating income) of Infosys has increased 13.38% to Rs 46402 crore.  Sales of Financial Services segment has gone up 11.73% to Rs 12,976.00 crore (accounting for 27.96% of total sales).  Sales of Manufacturing segment has gone up 12.73% to Rs 7,358.00 crore (accounting for 15.86% of total sales).  Sales of Telecom segment rose 19.88% to Rs 5,752.00 crore (accounting for 12.40% of total sales).  Sales of Retail segment has gone up 9.52% to Rs 5,958.00 crore (accounting for 12.84% of total sales).  Sales of Others & Hi Tech segment has gone up 4.74% to Rs 3,558.00 crore (accounting for 7.67% of total sales).  Sales of Energy Utilities & Telecommunicatio segment has gone up 15.18% to Rs 6,114.00 crore (accounting for 13.18% of total sales).  Sales of segment has gone up 22.71% to Rs 3,393.00 crore (accounting for 7.31% of total sales).  Sales of segment has gone up 20.17% to Rs 1,293.00 crore (accounting for 2.79% of total sales).  

Profit before interest, tax and other unallocable items (PBIT) has jumped 13.09% to Rs 11,167.00 crore.  PBIT of Financial Services segment rose 15.67% to Rs 3,410.00 crore (accounting for 30.54% of total PBIT).  PBIT of Manufacturing segment rose 28.85% to Rs 1,541.00 crore (accounting for 13.80% of total PBIT).  PBIT of Telecom segment rose 22.85% to Rs 1,027.00 crore (accounting for 9.20% of total PBIT).  PBIT of Retail segment rose 10.43% to Rs 1,811.00 crore (accounting for 16.22% of total PBIT).  PBIT of Others & Hi Tech segment rose 16.98% to Rs 930.00 crore (accounting for 8.33% of total PBIT).  PBIT of Energy Utilities & Telecommunicatio segment fell 1.84% to Rs 1,548.00 crore (accounting for 13.86% of total PBIT).  PBIT of segment rose 6.81% to Rs 659.00 crore (accounting for 5.90% of total PBIT).  PBIT of segment fell 9.06% to Rs 241.00 crore (accounting for 2.16% of total PBIT).  

PBIT margin of Financial Services segment rose from 25.38% to 26.28%.  PBIT margin of Manufacturing segment rose from 18.32% to 20.94%.  PBIT margin of Telecom segment rose from 17.42% to 17.85%.  PBIT margin of Retail segment rose from 30.15% to 30.40%.  PBIT margin of Others & Hi Tech segment rose from 23.40% to 26.14%.  PBIT margin of Energy Utilities & Telecommunicatio segment fell from 29.71% to 25.32%.  PBIT margin of segment fell from 22.31% to 19.42%.  PBIT margin of segment fell from 24.63% to 18.64%.  Overall PBIT margin fell from 24.13% to 24.07%.  

Operating profit margin has declined from 24.13% to 24.07%, leading to 13.09% rise in operating profit to Rs 11,167.00 crore.  Employee cost decreased from 53.79% to 53.20%.   Other expenses rose from 22.08% to 22.73%.   Selling and administration expenses rose from 2.37% to 2.87%.   Software technology development services cost fell from 17.53% to 17.07%.   

Other income fell 2.61% to Rs 1159 crore.  PBIDT rose 11.41% to Rs 12326 crore.  Provision for interest rose 2.94% to Rs 105 crore.  Loan funds rose to Rs 9,176.00 crore as of 31 March 2026 from Rs 8,227.00 crore as of 31 March 2025.  Sundry debtors were higher at Rs 35,234.00 crore as of 31 March 2026 compared to Rs 31,158.00 crore as of 31 March 2025.  Cash and bank balance declined from Rs 24,455.00 crore as of 31 March 2025 to Rs 22,201.00 crore as of 31 March 2026.  Investments declined from Rs 23,541.00 crore as of 31 March 2025 to Rs 21,880.00 crore as of 31 March 2026.  

PBDT rose 11.49% to Rs 12221 crore.  Provision for depreciation rose 9.62% to Rs 1424 crore.  Fixed assets increased to Rs 19,354.00 crore as of 31 March 2026 from Rs 18,903.00 crore as of 31 March 2025.  Intangible assets increased from Rs 12,872.00 crore to Rs 14,942.00 crore.  

Profit before tax grew 11.74% to Rs 10,797.00 crore.  Share of profit/loss were nil in both the periods.  Provision for tax was expense of Rs 2288 crore, compared to Rs 2625 crore.  Effective tax rate was 21.19% compared to 27.17%.

Minority interest increased 60% to Rs 8.00 crore.  Net profit attributable to owners of the company increased 20.87% to Rs 8,501.00 crore.  

Equity capital decreased from Rs 2,073.00 crore as of 31 March 2025 to Rs 2,024.00 crore as of 31 March 2026 .  Per share face Value remained same at Rs 5.00.  

Promoters? stake was 13.30% as of 31 March 2026 ,compared to 13.05% as of 31 March 2025 .  

Full year results analysis.

Net sales (including other operating income) of Infosys has increased 9.61% to Rs 178650 crore.  Sales of Financial Services segment has gone up 10.48% to Rs 49,908.00 crore (accounting for 27.94% of total sales).  Sales of Manufacturing segment has gone up 15.36% to Rs 29,078.00 crore (accounting for 16.28% of total sales).  Sales of Telecom segment rose 13.91% to Rs 21,765.00 crore (accounting for 12.18% of total sales).  Sales of Retail segment has gone up 4.61% to Rs 23,077.00 crore (accounting for 12.92% of total sales).  Sales of Others & Hi Tech segment has gone up 6.40% to Rs 13,928.00 crore (accounting for 7.80% of total sales).  Sales of Energy Utilities & Telecommunicatio segment has gone up 9.71% to Rs 23,818.00 crore (accounting for 13.33% of total sales).  Sales of Life Sciences and Healthcare segment has gone up 3.69% to Rs 12,267.00 crore (accounting for 6.87% of total sales).  Sales of segment has gone down 0.02% to Rs 4,809.00 crore (accounting for 2.69% of total sales).  

Profit before interest, tax and other unallocable items (PBIT) has jumped 8.18% to Rs 42,445.00 crore.  PBIT of Financial Services segment rose 14.23% to Rs 12,678.00 crore (accounting for 29.87% of total PBIT).  PBIT of Manufacturing segment rose 32.70% to Rs 6,444.00 crore (accounting for 15.18% of total PBIT).  PBIT of Telecom segment rose 15.56% to Rs 3,861.00 crore (accounting for 9.10% of total PBIT).  PBIT of Retail segment fell 0.62% to Rs 7,089.00 crore (accounting for 16.70% of total PBIT).  PBIT of Others & Hi Tech segment rose 0.25% to Rs 3,228.00 crore (accounting for 7.61% of total PBIT).  PBIT of Energy Utilities & Telecommunicatio segment fell 1.85% to Rs 5,984.00 crore (accounting for 14.10% of total PBIT).  PBIT of Life Sciences and Healthcare segment fell 8.22% to Rs 2,444.00 crore (accounting for 5.76% of total PBIT).  PBIT of segment fell 13.30% to Rs 717.00 crore (accounting for 1.69% of total PBIT).  

PBIT margin of Financial Services segment rose from 24.57% to 25.40%.  PBIT margin of Manufacturing segment rose from 19.26% to 22.16%.  PBIT margin of Telecom segment rose from 17.48% to 17.74%.  PBIT margin of Retail segment fell from 32.34% to 30.72%.  PBIT margin of Others & Hi Tech segment fell from 24.60% to 23.18%.  PBIT margin of Energy Utilities & Telecommunicatio segment fell from 28.08% to 25.12%.  PBIT margin of Life Sciences and Healthcare segment fell from 22.51% to 19.92%.  PBIT margin of segment fell from 17.19% to 14.91%.  Overall PBIT margin fell from 24.07% to 23.76%.  

Operating profit margin has declined from 24.07% to 23.67%, leading to 7.76% rise in operating profit to Rs 42,280.00 crore.  Employee cost increased from 52.73% to 53.23%.   Other expenses fell from 23.19% to 23.10%.   Selling and administration expenses rose from 2.56% to 2.68%.   Software technology development services cost fell from 17.70% to 17.43%.   

Other income rose 20.06% to Rs 4322 crore.  PBIDT rose 8.79% to Rs 46602 crore.  Loan funds rose to Rs 9,176.00 crore as of 31 March 2026 from Rs 8,227.00 crore as of 31 March 2025.  Sundry debtors were higher at Rs 35,234.00 crore as of 31 March 2026 compared to Rs 31,158.00 crore as of 31 March 2025.  Cash and bank balance declined from Rs 24,455.00 crore as of 31 March 2025 to Rs 22,201.00 crore as of 31 March 2026.  Investments declined from Rs 23,541.00 crore as of 31 March 2025 to Rs 21,880.00 crore as of 31 March 2026.  

PBDT rose 8.88% to Rs 46186 crore.  Provision for depreciation rose 1.87% to Rs 4902 crore.  Fixed assets increased to Rs 19,354.00 crore as of 31 March 2026 from Rs 18,903.00 crore as of 31 March 2025.  Intangible assets increased from Rs 12,872.00 crore to Rs 14,942.00 crore.  

Profit before tax grew 9.77% to Rs 41,284.00 crore.  Share of profit/loss were nil in both the periods.  Provision for tax was expense of Rs 10521 crore, compared to Rs 10858 crore.  Effective tax rate was 26.31% compared to 28.87%.

Minority interest decreased 8.11% to Rs 34.00 crore.  Net profit attributable to owners of the company increased 10.21% to Rs 29,440.00 crore.  

Equity capital decreased from Rs 2,073.00 crore as of 31 March 2025 to Rs 2,024.00 crore as of 31 March 2026 .  Per share face Value remained same at Rs 5.00.  

Promoters? stake was 13.30% as of 31 March 2026 ,compared to 13.05% as of 31 March 2025 .  

Cash flow from operating activities decreased to Rs 33,986.00 crore for year ended March 2026 from Rs 35,694.00 crore for year ended March 2025.  Cash flow used in acquiring fixed assets during the year ended March 2026 stood at Rs 2,727.00 crore, compared to Rs 2,237.00 crore during the year ended March 2025.  

 Dividend: The board has proposed a final dividend of rs 25 per equity share.

Guidance:

Revenue growth guidance for FY 2027 is 1.5% to 3.5% year-on-year in constant currency terms.

EBIT margin guidance for FY2027 is 20% to 22%.

 

Management commentary:

Commenting on the performance Mr Salil Parekh, CEO & MD said: ?We delivered a resilient performance in FY 26 with growth of 3.1% with strong large deal wins of $14.9 billion, reflecting the robustness of our enterprise AI value proposition and market share gains in large transformation opportunities. The simplicity and strength of our AI services strategy across six areas is gaining traction in the market further strengthened by strong ecosystem AI partnerships enabling clients to get value from AI. ?

He further added ?Our AI First value framework and differentiated Topaz Fabric, position us uniquely to deepen client trust and gain greater share of the market?,

Mr Jayesh Sanghrajka ?CFO said: ?FY 26 was a year of disciplined execution and financial resilience reflecting in 21% adjusted operating margin and healthy free cash flow of $3.7 billion. Savings from Project Maximus enabled us to invest in strategic areas like talent, AI and sales & marketing?.

He further added ?We remain focused on margins and cash generation as we navigate an evolving macro environment. In line with our capital allocation policy, Board has proposed a final dividend of `25 per share, which along with interim dividend and recently concluded buyback, amounts to over `37,500 crore returned to shareholders

Infosys : Consolidated Results

Quarter ended Year ended Particulars 202603 202503 Var.(%) 202603 202503 Var.(%) Net Sales (including other operating income) 46,402.00 40,925.00 13.38 178,650.00 162,990.00 9.61 OPM (%) 24.07 24.13 -6 bps 23.67 24.07 -41 bps OP 11,167.00 9,874.00 13.09 42,280.00 39,236.00 7.76 Other Inc. 1,159.00 1,190.00 -2.61 4,322.00 3,600.00 20.06 PBIDT 12,326.00 11,064.00 11.41 46,602.00 42,836.00 8.79 Interest 105.00 102.00 2.94 416.00 416.00 0 PBDT 12,221.00 10,962.00 11.49 46,186.00 42,420.00 8.88 Depreciation 1424 1299 9.62 4902 4812 1.87 PBT 10,797.00 9,663.00 11.74 41284 37608 9.77 Share of Profit/(Loss) from Associates 0 0 - 0 0 - PBT before EO 10797 9663 11.74 41284 37608 9.77 EO Income 0 0 - -1289 0 - PBT after EO 10797 9663 11.74 39995 37608 6.35 Taxation 2288 2625 -12.84 10521 10858 -3.10 PAT 8509 7038 20.90 29474 26750 10.18 Minority Interest (MI) 8 5 60.00 34 37 -8.11 Net profit 8501 7033 20.87 29440 26713 10.21 P/(L) from discontinued operations net of tax 0 0 - 0 0 - Net profit after discontinued operations 8501 7033 20.87 29440 26713 10.21 EPS (Rs)* 20.96 17.34 20.87 74.93 65.87 13.76 * EPS is on current equity of Rs 2,027.81 crore, Face value of Rs 5, Excluding extraordinary items. # EPS is not annualised bps : Basis points EO : Extraordinary items Figures in Rs crore Source: Capitaline Corporate Database

Infosys : Consolidated Segment Results

Quarter ended Year ended % of (Total) 202603 202503 Var.(%) % of (Total) 202603 202503 Var.(%) Sales Financial Services 27.96 12,976.00 11,614.00 11.73 27.94 49,908.00 45,175.00 10.48 Manufacturing 15.86 7,358.00 6,527.00 12.73 16.28 29,078.00 25,207.00 15.36 Telecom 12.40 5,752.00 4,798.00 19.88 12.18 21,765.00 19,108.00 13.91 Retail 12.84 5,958.00 5,440.00 9.52 12.92 23,077.00 22,059.00 4.61 Others & Hi Tech 7.67 3,558.00 3,397.00 4.74 7.80 13,928.00 13,090.00 6.40 Financial Services & Insurance 0.00 0.00 0.00 - Manufacturing enterprises 0.00 0.00 0.00 - Energy Utilities & Telecommunicatio 13.18 6,114.00 5,308.00 15.18 13.33 23,818.00 21,710.00 9.71 Retail Logistics Consumer Product 0.00 0.00 0.00 -   7.31 3,393.00 2,765.00 22.71 6.87 12,267.00 11,831.00 3.69   2.79 1,293.00 1,076.00 20.17 2.69 4,809.00 4,810.00 -0.02 Total Reported Sales 100.00 46,402.00 40,925.00 13.38 100.00 178,650.00 162,990.00 9.61 Less: Inter segment revenues   0.00 0.00 -   0.00 0.00 - Net Sales 100.00 46,402.00 40,925.00 13.38 100.00 178,650.00 162,990.00 9.61 PBIT Financial Services 30.54 3,410.00 2,948.00 15.67 29.87 12,678.00 11,099.00 14.23 Manufacturing 13.80 1,541.00 1,196.00 28.85 15.18 6,444.00 4,856.00 32.70 Telecom 9.20 1,027.00 836.00 22.85 9.10 3,861.00 3,341.00 15.56 Retail 16.22 1,811.00 1,640.00 10.43 16.70 7,089.00 7,133.00 -0.62 Others & Hi Tech 8.33 930.00 795.00 16.98 7.61 3,228.00 3,220.00 0.25 Financial Services & Insurance 0.00 0.00 0.00 - Manufacturing enterprises 0.00 0.00 0.00 - Energy Utilities & Telecommunicatio 13.86 1,548.00 1,577.00 -1.84 14.10 5,984.00 6,097.00 -1.85 Retail Logistics Consumer Product 0.00 0.00 0.00 -   5.90 659.00 617.00 6.81 5.76 2,444.00 2,663.00 -8.22   2.16 241.00 265.00 -9.06 1.69 717.00 827.00 -13.30 Total PBIT 100.00 11,167.00 9,874.00 13.09 100.00 42,445.00 39,236.00 8.18 Less : Interest 105.00 102.00 2.94 416.00 416.00 0 Add: Other un-allcoable -265.00 -109.00 -143.12 -2,034.00 -1,212.00 -67.82 PBIT Margin(%) Financial Services   26.28 25.38 89.61   25.40 24.57 83.38 Manufacturing   20.94 18.32 261.93   22.16 19.26 289.66 Telecom   17.85 17.42 43.07   17.74 17.48 25.47 Retail   30.40 30.15 24.90   30.72 32.34 -161.71 Others & Hi Tech   26.14 23.40 273.53   23.18 24.60 -142.26 Financial Services & Insurance   0.00 0.00 0.00 Manufacturing enterprises   0.00 0.00 0.00 Energy Utilities & Telecommunicatio   25.32 29.71 -439.09   25.12 28.08 -296.00 Retail Logistics Consumer Product   0.00 0.00 0.00     19.42 22.31 -289.23   19.92 22.51 -258.53     18.64 24.63 -598.94   14.91 17.19 -228.38 PBT 100.00 10,797.00 9,663.00 11.74 100.00 39,995.00 37,608.00 6.35