Infosys will announce its second-quarter results for FY27 on 23 October 2026, according to the result calendar published by Goodreturns. The company is the last of the large Indian IT services firms to report: TCS announced on 8 October, HCLTech on 12 October, and Wipro and Tech Mahindra on 15 October.
Analysts do not expect much from the large companies. Goodreturns, quoting Kotak Institutional Equities, says to expect a muted quarter for large companies and a better one for mid-sized firms. Tier-1 companies are expected to report a median sequential revenue growth of about 0.9 per cent, while tier-2 companies are expected to grow about 2.7 per cent, supported by deal ramp-ups and recent wins, according to the preview.
On guidance, a search summary of analyst commentary says that Infosys could cut its revenue growth guidance for the year to 1.5 to 2.5 per cent from 1.5 to 3 per cent, and that HCLTech’s organic growth guidance was expected to change to 2 to 3 per cent from 1 to 4 per cent. These are analysts’ expectations, not company statements, and IndiaX24 could not confirm them from the companies.
The results of the peers that have reported give some indications. Wipro’s IT services revenue was $2.61 billion, flat from the previous quarter, and it guided to a change of between minus 1.5 per cent and plus 0.5 per cent for the next quarter. Tech Mahindra’s revenue rose about 3 per cent from the previous quarter to Rs 16,180 crore, as IndiaX24 has reported. The two companies’ results were therefore on either side of the 0.9 per cent that the preview expected for large firms.
Margins are a concern in the preview. EBIT margins face headwinds as the rupee’s depreciation moderates, according to the preview, and several companies, including Tech Mahindra, LTM, Coforge and Hexaware, might report meaningful forex losses. A weaker rupee boosts the rupee value of dollar revenue, so when the rupee stops falling, that help fades.
The market has priced in some of the weakness. The Nifty IT index had fallen about 9 per cent over a month and nearly 20 per cent over a year, according to the preview, and most major technology stocks had underperformed. The index then rose the most among the sector indices on 15 October when the Sensex gained 2.11 per cent, as IndiaX24 has reported.
The preview also lists dividend and bonus items. TCS was expected to consider a second interim dividend, HCLTech a third interim dividend and Tech Mahindra an interim dividend plus bonus shares. Tech Mahindra’s board declared an interim dividend of Rs 15 per share, according to Upstox, and the reports reviewed do not mention a bonus issue.
The preview names Persistent Systems and Coforge as mid-tier firms that could achieve quarterly growth of 4.5 to 7 per cent. It does not give the date of their results.
Infosys’s own numbers will show how the largest of the Bengaluru-based firms is dealing with weak demand, and IndiaX24 will report the results and any change to its guidance on 23 October.
Image: An aerial view of the Glass Pyramid at the Infosys campus (file photo). Photo by Vinu Thomas from Bangalore, India, licensed under CC BY-SA 2.0, via Wikimedia Commons.
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