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On a year-on-year (YoY) basis, the IT major's consolidated net profit rose 6.23%, while revenue from operations climbed 10.69% in Q2 FY27.
Profit before tax (PBT) increased 8.15% YoY and 0.32% QoQ to Rs 11,063 crore in Q2 FY27. Operating margin moderated to 21% from 21.1% in Q1 FY27.
In constant currency terms, revenue grew 1.2% sequentially and 1.5% year-on-year. In dollar terms, revenue stood at $5,145 million, registering growth of 1.2% QoQ and 1.3% YoY.
Free cash flow (FCF) stood at Rs 8,898 crore as of 30th September 2026, down 8.05% YoY and 1.69% QoQ. FCF conversion at 113.5% of net profit
The total contract value (TCV) of large deal wins increased to $5.2 billion during the quarter from $3.6 billion in Q1 FY27, with net new deals contributing 62% of the total. AI-led services accounted for 10.5% of the company's revenue in Q2 FY27.
The company revised its FY27 constant currency revenue growth guidance downward to 1%-2% from its earlier projection of 1.5%-3%, while retaining its operating margin guidance of 20%-22%.
The company had 2,026 active clients as of 30th September 2026, compared with 1,896 a year earlier. Total headcount stood at 3,32,542, up 0.17% YoY. The IT services attrition rate declined to 12.7% from 14.3% in the previous year.
Salil Parekh, CEO and MD, said, “We had strong large deals of $5.2 billion, including a mega deal of over $2 billion, reinforcing our position as a trusted partner in the marketplace when clients embark on large and complex transformation programs. Our AI revenue was at 10.5% and grew 29% quarter-on-quarter. As enterprises move to AI adoption at scale, the strong growth in AI revenues is a recognition of our differentiated market positioning and client confidence,
We are advising some of the largest global enterprise on their AI strategy and continue to invest in deep domain and technology capabilities to bring new ideas and an integrated ecosystem to help businesses unlock AI value at scale,”
Jayesh Sanghrajka, CFO, said, “We delivered operating margins of 21.0% in Q2 amidst heightened volatility. Focus on cost and operational efficiency measures while making the required investments, have led to stable margins. Free cash flow of $928 million, representing 113.3% of net profit, underscores the financial strength of the business. The Board has announced an interim dividend of ₹26 per share, an increase of 13% from last year.”
Meanwhile, the company's board declared an interim dividend of Rs 26 per equity share for FY27. The record date has been fixed as 3 November 2026, and the dividend will be paid on 11 November 2026.
Infosys is a global leader in next-generation digital services and consulting.
The scrip rose 0.30% to settle at Rs 1154.50 on the BSE.
At 12:25 IST, the barometer index, the S&P BSE Sensex tanked 755.77 points or 0.98% to 73,996.33. The Nifty 50 index declined 206.20 points or 0.89% to 22,941.60.
In the broader market, the BSE 150 MidCap Index declined 0.57% and the BSE 250 SmallCap Index fell 1.01%.
The market breadth was weak. On the BSE, 1,328 shares rose and 2,842 shares fell. A total of 285 shares were unchanged.
Brent crude for December 2026 settlement declined $2.57 or 2.34% to $107.29 a barrel.
Derivatives:
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rallied 5.13% to 14.97. The Nifty 27 October 2026 futures were trading at 22,936.10 at a discount of 5.50 points as compared with the spot at 22,941.60.
The Nifty option chain for the 27 October 2026 expiry showed a maximum call OI of 1.17 crore contracts at the 23,500 strike price. A maximum put OI of 69.3 lakh contracts was seen at the 22,500 strike price.
Buzzing Index:
The Nifty IT index fell 1.02% to 31,598.50. The index jumped 12.61% in the past four trading sessions.
Infosys (down 2.02%), LTM (down 1.6%), Oracle Financial Services Software (down 1.45%), Coforge (down 0.92%), Tech Mahindra (down 0.84%), Mphasis (down 0.68%), Wipro (down 0.23%), Tata Consultancy Services (down 0.02%) surged.
Infosys announced the expansion of its collaboration with Truist, one of the largest US-based financial services companies, to support the bank's continued build-out of its AI-first Global Capability Center in Hyderabad. Together with Infosys, Truist is strengthening India's role as a key global hub for innovation, talent, and digital capability.
Through this expanded collaboration, Infosys will utilize its deep financial services expertise and AI-first capabilities, to help accelerate scalable transformation and drive enterprise-wide value creation. As part of this effort, Truist is consolidating capabilities currently delivered through multiple supplier relationships in India into a more unified, integrated operating model. Infosys and Truist will celebrate the successful onboarding of more than 1,000 colleagues later this month, marking a significant milestone in the continued growth and expansion of the GCC.
The GCC represents Truist's continued investment in building a scaled, future-ready innovation and operations hub designed to enhance client experiences, empower teammates, and help deliver a more digitally enabled and relationship-driven banking experience. Infosys will enable Truist to build, scale, and transition a self-sustaining center of excellence, integrating AI, technology, data, and operations into a single cohesive delivery framework. This model is designed to reduce third-party dependency, manage global delivery complexity, and cultivate deep, future-ready technology talent.
In the cash market, the Nifty 50 index surged 148.80 points or 0.65% to 23,146.15.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rose 0.35% to 14.08.
HDFC Bank, Infosys and Tata Consultancy Services (TCS) were the top-traded individual stock futures contracts in the F&O segment of the NSE.
The October 2026 F&O contracts will expire on 27 October 2026.
Infosys Ltd is up for a third straight session today. The stock is quoting at Rs 1113.6, up 2.35% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 1.69% on the day, quoting at 23005.5. The Sensex is at 74164.05, up 1.9%. Infosys Ltd has gained around 5.06% in last one month.
Meanwhile, Nifty IT index of which Infosys Ltd is a constituent, has gained around 5.94% in last one month and is currently quoting at 30171, up 2.14% on the day. The volume in the stock stood at 100.49 lakh shares today, compared to the daily average of 115.43 lakh shares in last one month.
The benchmark October futures contract for the stock is quoting at Rs 1116.85, up 2.14% on the day. Infosys Ltd is down 24.32% in last one year as compared to a 10.08% slide in NIFTY and a 13.27% slide in the Nifty IT index.
The PE of the stock is 14.19 based on TTM earnings ending June 26.
In the cash market, the Nifty 50 index declined 99.25 points or 0.44% to 22,622.70.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rallied 3.39% to 14.60.
Infosys, HDFC Bank and Tata Consultancy Services (TCS) were the top-traded individual stock futures contracts in the F&O segment of the NSE.