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Bengaluru-based Information Technology (IT) major Infosys Ltd. is slated to announce its financial results for the January–March 2025 quarter on Wednesday, April 16. According to a CNBC-TV18 poll, analysts expect India's second-largest IT services firm to report a 1.4% quarter-on-quarter decline in revenue in US dollar terms, at $4,871 million.
In rupee terms, Infosys' revenue is expected to grow by 0.9% quarter-on-quarter to ₹42,133 crore, compared to ₹41,764 crore in the previous December quarter.
The IT major's EBIT (Earnings Before Interest and Tax) is estimated at ₹8,742 crore, down from ₹8,912 crore in the December quarter. Margins may decrease to 20.7% from 21.3% earlier.
The company's profit after tax is expected to increase 6.9% quarter-on-quarter to ₹7,278 crore, compared to ₹6,806 crore in the preceding period.
Constant currency (CC) revenue growth for Infosys is expected to decline 1.1% quarter-on-quarter. TCS reported CC revenue decline of 0.8% QoQ.
Infosys' FY25 growth guidance at 4.5%-5% year-on-year cc implies sequential growth rate of -2.3% to - 0.3% quarter-on-quarter in Q4FY25.
| Q4FY23 | Q1FY24 | Q2FY24 | Q3FY24 | Q4FY24 | Q1FY25 | Q2FY25 | Q3FY25 | |
| CC Qoq % | -3.20% | 1% | 2.30% | -1% | -2.20% | 3.60% | 3.1% | 1.70% |
| CC YoY % | 8.80% | 4.20% | 2.50% | -1% | 0% | 2.50% | 3.3% | 6.10% |
Infosys FY26 guidance
If Infosys decides to suspend its guidance citing uncertainty, it would be viewed as a negative catalyst.
If the IT major does provide guidance, it is expected to project revenue growth of 2–4% for FY26 (Kotak/Ambit: 1–4%, JPM: 2–5%), with EBIT margins in the range of 20–22%.
Analysts also point out that the absence of mega deal announcements over the past 12 to 18 months implies a greater reliance on a revival in discretionary demand for growth in FY26.
The wage hike will happen in two tranches starting January and April, with the majority getting it in January cycle and Visa-related spending is expected to impact margins in the fourth quarter, partly offset by rupee depreciation.
Shares of Infosys Ltd. ended 1.49% higher on Tuesday at ₹1,430.40. The stock is down 24% so far in 2025.
