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Infosys Q1: A flash in the pan?
Mint Mumbai
|July 25, 2025
Infosys Ltd surprised the Street with sequential constant-currency (CC) revenue growth of 2.6% in the June quarter (Q1FY26) driven by traction across most verticals and geographies. It also saw 40 basis points (bps) of inorganic contribution from the acquisitions of MRE Consulting and The Missing Link.
Unlike in some earlier quarters, the quality of revenue generation improved, too, as growth was not driven by pass-through revenue this time. Revenue from the sale of third-party items bought for service delivery to clients is known as pass-through revenue. With this, Infosys significantly exceeded the consensus CC revenue growth estimate of 1.5% and outpaced its tier-1 peers.
The total contract value (TCV) for large deal wins fell 7% y-o-y to $3.8 billion in the quarter, but rose sequentially. Also, it was above the $2.4-2.6 billion range that Infosys clocked in recent quarters. Around 55% of the large-deal TCV was net new. Infosys closed 28 large deals in the quarter, with consolidation projects continuing to drive deal wins.
This story is from the July 25, 2025 edition of Mint Mumbai.
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