Infosys is expected to report a muted Q4FY26, with revenue growth remaining soft due to seasonal weakness and cautious demand trends.
Margins are likely to stay broadly stable despite cost pressures, supported by currency tailwinds and internal efficiency measures.
The key trigger for markets will be FY27 guidance, deal pipeline strength and AI strategy commentary, rather than the Q4 numbers themselves.
Infosys Q4FY26 Preview: What to Expect from Revenue, Profit, Guidance
Experts anticipate Infosys to post a 7-8% year-on-year (YoY) rise in net profit for the March quarter, driven by a 12-15% jump in sales
Infosys
Summary
Advertisement
IT major Infosys is set to announce its March quarter (Q4FY26) earnings on Thursday, April 23, against a challenging backdrop of a nearly 20% year-to-date decline in the Nifty IT index.
Experts anticipate Infosys to post a 7-8% year-on-year (YoY) rise in net profit for the March quarter, driven by a 12-15% jump in sales. However, on a sequential basis, revenue growth is expected to remain in low single digits, and net profit could see a decline. The quarter is also seasonally weak, with fewer billing days adding to the pressure.
Brokerage firm Motilal Oswal expects Q4FY26 numbers to be "somewhat uneventful," citing no major disruptions from ongoing geopolitical tensions or significant deflationary shocks from AI implementation as yet. It projects a 0.7% sequential revenue decline for Infosys, attributing it to front-ended growth in the first half of the fiscal year.
Dividend and Results Schedule
In an exchange filing dated March 15, Infosys said its Board of Directors convened on April 22-23 to consider and approve the audited standalone and consolidated financial results for Q4FY26 and the full financial year ended March 31. The board is also expected to recommend a final dividend, if any, for FY26.
Advertisement
The Q4FY26 results are scheduled to be declared at approximately 3:45 p.m. IST on April 23, followed by a 60-minute investor and analyst conference call at 5:30 p.m. IST on the same day.
What Weighed on the Quarter
The March quarter was marked by macro uncertainty, geopolitical tensions, and cautious client decision-making on large deals. War escalation risks tempered revenue traction, while AI-led deflation concerns triggered a recent de-rating of IT sector multiples.
Rupee depreciation offered some relief on margins. Despite a recent partial recovery, Infosys shares remain down 22% in 2026 so far, with fears that new generative AI platforms — including models from Claude and Palantir — could disrupt traditional SaaS and IT service models.
Motilal Oswal noted that both the war impact and AI deflation scenarios are backward-looking at this stage. A prolonged geopolitical conflict could hurt demand, while the more significant AI deflation risk is seen as a two-to-five-year question rather than an immediate earnings concern.
Advertisement
Infosys Q3 Performance
In the previous quarter (Q3FY26), Infosys reported consolidated revenue of ₹45,479 crore, up 8.9% YoY from ₹41,764 crore in Q3FY25. However, net profit (after non-controlling interests) fell 2.2% YoY to ₹6,654 crore from ₹6,806 crore in the same period last year.
FY27 Guidance in Focus
Motilal Oswal expects Infosys to guide FY27 revenue growth of 1.5-4.5% YoY in constant currency terms. The brokerage notes that exit growth rates for most large-cap IT firms now appear relatively favourable, with an organic YoY constant currency growth exit of 4.3% projected for Infosys. It also expects Indian IT companies to exercise caution in their outlook given the current geopolitical environment.