Infosys outpaces IT peers in Q1

Company beats Street as Ql revenue jumps 4.82%, defies tech spending slowdown

- Jas Bardia

Infosys Ltd grew the fastest among India’s five largest information technology services companies, reporting its best first-quarter performance in four years and defying a slowdown in tech spending and macroeconomic uncertainty.

Infosys reported $4.94 billion in revenue for the April-June period—up 4.46% from the preceding three months and 4.82% from a year earlier—exceeding the $4.86 billion that analysts polled by Bloomberg had expected on average.

Much of this increase in business was from energy firms, which made up 27% of its incremental revenue of $211 million.

Infosys also raised the lower end of its revenue guidance for 2025-26 to 1-3% in constant currency terms, higher than the flat-3% growth it had projected in April, which was its slowest revenue guidance in at least a decade. Constant currency does not take currency fluctuation into account.

HCL Technologies Ltd, too, recently increased the lower end of its full-year guidance. It now expects revenue growth of 3-5% in constant currency terms for FY26, up from its April projection of 2-5% growth.

For the ongoing second quarter, Wipro Ltd expects either a revenue decline or a growth of up to 1%. Tata Consultancy Services Ltd, India's largest IT vendor, and Tech Mahindra Ltd do not provide guidance.