Q2 Results: Infosys net profit rises 13% to Rs 7,364 crore, IT firm hires 12,000 freshers from April-Sept

"I am excited to introduce Wipro Intelligence which is our unified suite of AI-powered platforms and solutions and transformative offerings. With Wipro Intelligence, we will be enabling our clients scale with confidence and lead in a AI-first world," said Wipro CEO Srini Pallia. "We will make sure AI will be ethical, responsible, reliable, and secure just like Wipro is. That is our promise to customers," he added.

"Over the last few years, we have built a very focused and purposeful approach on how can we localise. Nearly 80% of our US employee base are locals," said Wipro Chief Human Resource Officer Saurabh Govil. He was speaking on the possible impact of US President Donald Trump’s latest changes to H-1B visa rules.

Wipro CEO Srini Pallia said that the US President Donald Trump's latest changes to H-1B visa rules has no impact on the IT firm. "We are not dependent on H-1B visas," he said while speaking at the press conference after the release of the firm's Q2 FY26 results.

"Tariff uncertainties continue to impact consumer, energy, and manufacturing sectors, leading our customers to re-evaluate their supply chains," said Wipro CEO Srini Pallia. "Europe returned to sequential growth in Q2 after several quarters led by BFSI. The Phoenix deal is set to generate revenue from Q3 providing further momentum to Europe," he added.

Cyient reported a net profit of Rs 127.5 crore for Q2 FY26, marking a 29% YoY drop from the Rs 179.1 crore net profit reported in Q2 FY25. The firm's revenue from operations fell to Rs 1,781 crore.

Along with the Q2 results, the company announced an interim dividend of Rs 16 per equity share. The company has set October 24 as the record date to determine the eligibility of the shareholders set to receive the payment.

LTIMindtree reported a net profit of Rs 1,401 crore for Q2 FY26, marking a 12% YoY rise from the Rs 1,251 crore net profit reported in Q2 FY25. The firm's revenue from operations meanwhile rose to Rs 10,394 crore.

Along with the Q2 results, the company announced an interim dividend of Rs 22 per equity share. The company has set October 24 as the record date to determine the eligibility of the shareholders set to receive the payment.

Infosys hired 12,000 freshers in the first half of FY26, the company's CFO Jayesh Sanghrajka said. "We plan to reach 20,000 fresher hiring goal for this year," he added.

"Seeing deep work going on in AI around credit and risk, software development, customer support and enterprise transformation. We are seeing good traction. The environment is still uncertain. There are cost constraints in some industries, BFSI doing well, manufacturing is good," said Salil Parekh, CEO and MD at Infosys.

"The environment still remains uncertain, despite that we have tightened our guidance given Q2's performance," said Infosys CFO Jayesh Sanghrajka. The IT major kept its guidance at 2-3%.

"Majority of our employees in the US don't require any immigration support. Our US workforce requiring sponsorship for immigration is a minority," said Salil Parekh, CEO and MD at Infosys. "We have built large no. of centres and hubs focusing on digital, AI in the US. With that in mind, we will be able to work with clients in the future," he added.

Infosys reported attrition rate at 14.3%, marking a fall of 10 bps QoQ.

"We have now delivered two consecutive quarters of strong growth, demonstrating our unique market positioning and client relevance. Strong deal wins, with 67% net new in Q2, reflect our deep understanding of clients’ priorities to deliver value from AI in this environment," said  Salil Parekh, CEO and MD at Infosys. "Our proactive investments, over the last three years, in embracing an AI-first culture within Infosys has ensured that our people are reskilled to thrive in a human+AI workplace. Infosys Topaz’s differentiated value proposition is unlocking value at scale in every transformation program," he added.

Operating margin stood at 21% during the quarter. Free cash flow generation was strong at $1.1 billion, 131.1% of net profit. TCV of large deal wins was $3.1 billion, with net new of 67%. Employee headcount increased by 8,203.

Infosys announced an interim dividend of Rs 23 per equity share. The company has set October 27 as the record date to determine the eligibility of shareholders set to receive the payment.

Infosys reported a net profit of Rs 7,364 crore for Q2 FY26. This marks a 13.2% YoY rise from the Rs 6,506 crore net profit reported in Q2 FY25. The firm's revenue from operations meanwhile grew 8.5% to Rs 44,490 crore. Its expenses rose to Rs 35,243 crore.

"Our revenue momentum is strengthening, with Europe and APMEA returning to growth, and our operating margins holding steady within the narrow band. Bookings surpassed $9.5 billion for H1 FY26. Our strategy is clear: remain resilient, adapt to global shifts, and lead with AI. I am excited to bring Wipro Intelligence to our clients, helping them scale confidently and shape the future in an AI-first world," said Srini Pallia, CEO and Managing Director at Wipro.

"We are gradually returning to growth trajectory with three of our four SMUs growing sequentially in Q2. All key financial parameters continue to remain strong. Our large deal bookings in the first two quarters have now surpassed the large deal booking for full year FY’25. Our adjusted margins for Q2 expanded by 0.4% YoY. EPS for the quarter grew 1% YoY. Lastly, our cash flow conversion continues to remain strong with operating cash flow at 104% of our net income for Q2," said Aparna Iyer, Chief Financial Officer at Wipro.

"We expect revenue from our IT Services business segment to be in the range of $2,591 million to $2,644 million. This translates to sequential guidance of (-)0.5% to (+)1.5% in constant currency terms. The guidance stated above does not include any expected revenue from the recently announced acquisition of Harman Digital Transformation Solutions," Wipro said.

Voluntary attrition stood at 14.9% on a trailing 12-month basis, Wipro said. Net income for the quarter was at Rs 3,250 crore ($365.6 million), marking a decrease of 2.5% QoQ and increase of 1.2% YoY.

Earnings per share for the quarter at Rs 3.1 ($0.03), marking a decrease of 2.5% QoQ and increase of 1.0% YoY. Operating cash flows of Rs 3,390 billion ($381.5 million), decrease of 17.6% QoQ and 20.7% YoY and at 103.8% of Net Income for the quarter.

IT services operating margin for Q2 FY26 was 16.7%, impacted by a provision of Rs 116.5 crore ($13.1 million) made with respect to bankruptcy of a customer, Wipro said. Adjusted for this event, IT Services Margin for the quarter was 17.2%, contraction of 0.1% QoQ and expansion of 0.4% YoY, the firm added.

Wipro reported a revenue of Rs 22,753 crore for its IT segment. This is over 2% higher than the Rs 22,262 crore reported in Q2 FY25. Revenue from IT Services grew over 2% YoY to Rs 22,640 crore.

Wipro reported a net profit of Rs 3,246.2 crore for Q2 FY26, marking a 1% YoY rise from the Rs 3,208.8 crore net profit reported in Q2 FY25. The firm's revenue from operations meanwhile rose nearly 2% YoY to Rs 22,697.3 crore. Expenses meanwhile rose over 2% YoY to Rs 19,377.8 crore.

Zee Entertainment Enterprises reported a 63% YoY decline in consolidated net profit at Rs 76.5 crore in the second quarter ended September 30, 2025, as companies continued to pull back on advertising spending. The company, which runs channels such as ZeeTV and ZeeCinema, had posted a consolidated net profit of Rs 209-crore in the corresponding quarter last fiscal.

Eternal shares closed nearly 4% lower at Rs 340.50 apiece. The stock has now dropped 8% from its day's high of Rs 368.45 apiece, which it had hit immediately after the results were released.

• Lower tax on Blinkit orders: "The GST rate cuts have brought down the average GST on Blinkit’s typical basket by ~3 percentage points which should drive more demand. We certainly expect a positive rub-off on demand due to this from Q3FY26 onwards (given the changes came into effect only towards the end of Q2FY26). As far as Q2FY26 is concerned, we saw a negative impact on both growth and margins as customers went into wait and watch mode delaying their purchases across categories including the ones where no GST rate changes were announced," said Akshant Goyal, CFO of Eternal.
• Higher GST on food delivery charge: "The other impact was related to GST on the delivery charge that we collect from customers in the food delivery business. 18% GST is now applicable on the delivery charge paid by customers on food delivery orders. This impacts about 25% of our orders where delivery is not free (just to clarify, platform fee is already subject to 18% GST and does not get impacted by this change). This has had a slight negative impact on the growth of the business as we have passed on this tax burden to customers," he added.
• No impact on Blinkit's delivery charges: "There was no impact on delivery charge paid by customers on Blinkit - it already includes 18% GST given the model of engagement with delivery partners there is different as compared to food delivery and nothing changes on that front for us," he concluded.

"We have been maintaining our quarterly rate of net store additions consistently for the last few quarters, and given what we know today, we think we should be able to get to 3,000 stores by Mar 2027," said Albinder Dhindsa, Founder of Blinkit.

"While absolute losses decreased (in line with what we mentioned in our last letter), the reduction in loss/ margin expansion was below our expectations. This was largely driven by our investments to drive higher growth and (NOV) market share opportunistically in the quarter through -

• Passing on efficiency gains in our business to our customers so they build higher confidence with us that Blinkit provides the best value in addition to our 10 minute delivery promise
• Investment in higher marketing spends to acquire new customers (our marketing spends in Q2FY26 were up ~4x YoY and 1.4x QoQ)
• Accelerated store network expansion - we now expect to get to 2,100 stores by Dec 2025 vs our
  earlier guidance of 2,000 stores
• Building capacity (warehousing and supply chain) to fulfill the higher demand we generated as a result of these actions

This does not change our long term outlook on margins, and we continue to build with a long-term view of the business. If we have to choose between high quality sustainable growth, and a short-term sacrifice of margins, we are in a position to choose the former given our strong balance sheet," said Albinder Dhindsa, Founder of Blinkit.

"In line with our expectation (as mentioned in the last letter), NOV growth rate (YoY) did go up in Q2FY26 after declining consistently for the last five quarters. Having said that, the recovery in growth has been slower than expected and we only expect a slow uptick in growth rate in the near term," said Eternal Founder Deepinder Goyal.

"While we continue to work on inputs to the business (making restaurant food more accessible and affordable for customers), we are also constantly fighting multiple headwinds including soft discretionary consumption in general in India, the impact of quick commerce growth and increasingly volatile weather (extreme heat, extended rains), which continue to weigh on near term growth," he added.

"Quick commerce NOV growth accelerated to 137% YoY (27% QoQ) - its highest in the last ten quarters. Network expansion continued with 272 net new stores added taking the total store count to 1,816 stores as at the end of the quarter. Adjusted EBITDA margin (as a % of NOV) continued to improve QoQ to -1.3% from -1.8% in Q1FY26. The pace of margin improvement was slower than what we had anticipated at the beginning of the quarter and that is because of additional investments in market share growth," said Eternal Founder Deepinder Goyal.

"NOV grew 14% YoY, improving (slightly) from 13% YoY NOV growth in the previous quarter. The growth rate seems to have bottomed out in Q1FY26, and is starting to recover, albeit slowly. On the margin front, Adjusted EBITDA margin (as a % of NOV) reached an all-time high of 5.3% and the business delivered an absolute Adjusted EBITDA of over INR 500 crore for the quarter (vs INR 451 crore in Q1FY26)," said Eternal Founder Deepinder Goyal.

Eternal shares jumped 4% to hit a fresh lifetime high of Rs 368.45 apiece. This comes after the company released its results for the second quarter of financial year 2026.

Zomato-parent Eternal reported a net profit of Rs 65 crore for Q2 FY26. This marks a 63% YoY drop from the Rs 176 crore net profit reported in Q2 FY25. Revenue from operations however soared 183% YoY to Rs 13,590 crore. Expenses also surged 189% YoY to Rs 13,813 crore.

Eternal Ltd (formerly Zomato), which operates food delivery platform Zomato and quick commerce firm Blinkit, on July 21 reported a massive 90 percent year-on-year (YoY) decline in quarterly profit after tax (PAT) at Rs 25 crore in the first quarter (Q1) of financial year 2025-26 (FY26), down from Rs 253 crore in the same period a year ago.

The company, which re-branded itself from Zomato to Eternal in March, had reported a net profit of Rs 253 crore in the year-ago period. Zomato’s revenue from operations rose 70.4 percent YoY to Rs 7,167 crore in Q1, up from Rs 4,206 crore a year ago. It had reported a revenue of Rs 5,833 crore in the previous quarter. Total expenses for the Gurugram-based firm increased to Rs 7,433 crore in the quarter ended June, up from Rs 4,203 crore a year ago and Rs 6,104 crore a quarter ago.

The shares of Nestle India jumped 5% to emerge as the top Nifty gainer today. This comes after the FMCG company released its results for the July-September quarter of the financial year 2026.

The shares of Zomato-parent Eternal erased all early gains to drop over 2% at Rs 345.95 apiece. Earlier during the day, the stock had gained up to 2% to hit its day's high. The stock has now fallen more than 4% from that level. The company is set to announce its results for the second quarter of FY26 today.

South Indian Bank reported a net profit of Rs 351 crore for Q2 FY26, marking an 8% YoY rise from the Rs 325 crore net profit reported in Q2 FY25. The firm’s asset quality improved, with net NPA ratio falling to 0.56% in Q2 FY26, from 1.31% in Q2 FY25.

Indian Bank reported a net profit of Rs 3,018 crore for Q2 FY26. This marks a 11.5% YoY rise from the Rs 2,706 crore net profit reported in Q2 FY25. The firm’s net interest income (NII) rose to Rs 6,551 crore. The bank’s asset quality improved, with net NPA ratio declining to 0.16% in Q2 FY26, from 0.27% in Q2 FY25.

Indian Overseas Bank reported a net profit of Rs 1,226 crore for Q2 FY26, marking a 58% YoY rise from the Rs 777 crore net profit reported in Q2 FY25. The firm’s net interest income rose to Rs 3,059 crore. The lender’s asset quality improved, with net NPA ratio falling to 0.28% in Q2 FY26 from 0.47% in Q2 FY25.

Nestle shares jumped around 3% to trade at Rs 1,253.40 apiece. This comes after the company released its results for the second quarter of the financial year 2026.

• Total Sales of Rs 5,630.2 crore
• Total Sales Growth at 10.9%, Domestic Sales Growth at 10.8%
• EBITDA at 22.0% of Sales
• Profit After Tax of Rs 753.2 crore
• Earnings Per Share (EPS) of Rs 3.90. EPS in the same period of last year, was INR 3.88 after excluding the significant positive impact of business divestitures income of INR 290.8 crore, disclosed as exceptional item in that period.

"The Milk Products and Nutrition product group had mixed performance, with certain segments showing growth while others exhibited muted performance. Nonetheless, we are encouraged by the improving underlying trends in some segments," Nestle India said.

"The Powdered and Liquid Beverages product group delivered another quarter of high doubledigit growth. NESCAFÉ continued to lead the coffee category, gaining market share and increasing household penetration," Nestle said.

"The Confectionery product group grew at a strong double-digit rate, driven by significant underlying volume growth. KITKAT was the largest growth driver and continued to gain market share. India remains the second largest KITKAT market for Nestlé worldwide. The numeric distribution expansion of KITKAT, particularly in rural areas, contributed to this growth. MUNCH and MILKYBAR also grew at high double-digit rates," the firm said.

"The recent amendments in the Goods and Services Tax (GST) rates announced by the Government of India is a positive step for consumers. It is expected to stimulate consumption, drive affordability and contribute to the overall growth of the FMCG sector and the economy. We have been working closely with our partners, distributors, wholesalers, and retailers, to pass on the benefits of the revised GST rates, across our product groups to our consumers," said Nestle India Chairman and Managing Director Manish Tiwary.

“I am happy to report that domestic sales grew at a double-digit rate, led by volume growth. Three out of four product groups delivered strong volume led double-digit growth. Our domestic sales reached INR 5,411 crore, the highest ever recorded in any quarter. I would like to thank our employees for their commitment and resolve," said Nestle India Chairman and Managing Director Manish Tiwary.

"Milk prices are expected to soften after the festive season, coinciding with the onset of the flush season. Coffee prices are anticipated to stabilize and may decrease as the upcoming crops in Vietnam and India appear to be normal. The global supply and demand for cocoa are projected to balance, primarily due to a correction in demand over the past two years. Edible oil prices are expected to remain firm and may rise further due to a tight supply and demand at the global level," said Nestle India.

Nestle India reported a standalone net profit of Rs 753 crore for Q2 FY26. This marks a drop of around 24% YoY from the Rs 986 crore net profit reported in Q2 FY25. It is however higher than the Rs 729 crore net profit estimated on an average by brokerages polled by Moneycontrol.

Revenue from operations meanwhile rose 11% YoY to Rs 5,643.6 crore in Q2 FY26 from Rs 5,104 crore in Q2 FY25. Expenses rose 13% YoY to Rs 4,617 crore.

The shares of Infosys were trading in the red with marginal losses at Rs 1,468.60 apiece. The company is set to announce its results for the second quarter of FY26 today.

• GST impact: Since 85-90 percent of Nestle India's portfolio (all categories, excluding dairy) has seen a GST rate cut, Kotak estimated a 425 bps impact of trade destocking on domestic revenue growth in Q2.
• Weak demand: Brokerages noted that even though urban demand is recovering, following the slowdown, a higher dependency on urban markets might weigh on Nestle India's volumes. Most expectations see volume growth in the range of one to three percent.
• Margins: Brokerages expect Nestle India's gross margins to contract between 90 and 140 basis points, impacted by sharp inflation in coffee, cocoa, dairy and edible oils. The EBIDTA margin may decline by ~100 basis points, on account of GM contraction.

Analysts will closely monitor the management’s commentaries on demand and material costs. They will also pay attention to raw material prices,  particularly for coffee, milk, and sugar,  and their effect on EBITDA margins, as well as the growing competitive pressure across segments. Further, updates on distribution expansion and direct reach initiatives will be closely watched out for.

Maggi noodles maker Nestle India will showcase its earnings report for the September quarter of the fiscal year on October 16, 2025. Sales growth is expected in the low-single digits, as a result of subdued performance by the beverage portfolio, including in milk and nutrition, along with some disruption owing to GST transition.

According to a Moneycontrol poll of six brokerages, Nestle India is likely to report a 4 percent year-on-year rise in revenue at Rs 5,307 crore compared to Rs 5,104 crore reported in the same quarter last year. Net profit for the July to September period may come in at roughly Rs 729 crore, based on estimates. (Read more)

The shares of Nestle India were trading flat with marginal losses at Rs 1,221 apiece. The company is set to announce its results for the second quarter of FY26 today.

The shares of Zomato-parent Eternal jumped 1.5% to trade at Rs 360 apiece. The company is set to announce its results for the second quarter of FY26 today.