Infosys, LTIMindtree, Wipro: IT stocks trade in the red post Q2; NIFTY IT falls over 1.2%

Among 10 constituents, eight were in the red, and the other two were in the green. Wipro was the biggest loser (down around 4.5%). Next on the losers' list were Coforge (down 2.36%), Mphasis (down 2.32%), and Infosys (down 1.75%).

Infosys

IT major Infosys on Thursday posted a 13.2% increase in consolidated net profit to ₹7,364 crore for the second quarter ended September 30, mainly on account of large deal wins.

The company had posted a net profit of ₹6,506 crore a year ago.

Its revenue from operations grew 8.6% to ₹44,490 crore during the quarter from ₹40,986 crore in the year-ago period.

The company increased the lower base of the growth outlook for FY26 to 2-3% in constant currency terms from the 1-3% it had projected in the June 2025 quarter.

"We had a strong performance in Q2. Our operating margin was 21 per cent. Deals were at USD 3.1 billion, out of which 67 per cent was net new work. In addition, we announced a mega deal worth USD 1.6 billion after the close of the quarter. We have added 8,000 employees during the quarter," Infosys MD and CEO Salil Parikh said.

The company posted a marginal decline in operating margin to 21% on a year-on-year and quarterly basis.

The free cash flow generation was 131% of net profit to ₹9,677 crore, and the TCV (total contract value) of large deal wins was $3.1 billion (about ₹27,525 crore). The company bagged deals worth $2.4 billion in the September 2025 quarter.

The financial services segment, the biggest contributor to Infosys' revenue at 27.7%, grew by 5.6%.

Talking about business from the artificial intelligence segment, Parikh said that the company has strong partnerships with a lot of different large tech companies and the company sees a huge amount of opportunity in the enterprise AI space. Parikh said the overall market environment is still uncertain.

“We still see in some of our large markets that there is growth, but there's also some inflation, and the job creation is constrained. In some other markets, there are cost constraints. Some industries are seeing that. So that's a mix. Equally, we are seeing a lot of strength, for example, in financial services,” he said.

Infosys announced an interim dividend of ₹23 per share, an increase of 9.5% over the last fiscal year.

Wipro

Wipro on Thursday reported a marginal increase in consolidated net profit to ₹3,246.2 crore in the July-September quarter, even as the company CEO and MD Srini Pallia asserted that the demand environment remains robust with discretionary spending shifting towards AI-related projects.

Deepening its AI bet, the Bengaluru-headquartered firm introduced Wipro Intelligence, a unified suite of AI-powered platforms, solutions, and offerings, to tap extensively into the space, where it sees opportunities in consulting and advisory.

Wipro had reported a profit (attributable to equity holders of the company) of ₹3,208.8 crore in the year-ago period, according to a regulatory filing.

Revenue from operations for the quarter under review rose by 1.7% to ₹22,697.3 crore compared to the same period of last year.

Sequentially, profit fell by 2.5% while revenue rose 2.5%.

“If you look at the demand, there are three opportunities that we have: One is vendor consolidation and cost optimisation for our clients. That clearly continues. Second, as new demand picks up, which is in AI, clients want to move away from proof of concepts to actually implementing AI and agentic AI across the business process and also workflows.

“Third, AI is also creating new opportunities for us to be truly consulting-led in terms of AI advisory, data advisory ... I think those are the new opportunities that are generating. So, demand continues to be strong. Discretionary spend is moving more and more into AI-related projects,” Pallia said in the company’s earnings call.

Wipro's total bookings during the quarter, standing at $4.7 billion, were up 30.9% year-on-year (YoY) in constant currency terms. These included 13 large deals and 2 mega deal renewals in the BFSI and healthcare segments.

LTIMindtree

LTI Mindtree has posted a 10.3% increase in consolidated net profit to ₹1,381 crore in the second quarter ended September 30, 2025.

The company had reported a net profit of ₹1,251 crore in the same period a year ago.

LTI Mindtree for the first time crossed ₹10,000 crore in revenue in a quarter, with over 10% growth to ₹10,394.3 crore during the reported quarter compared to the ₹9,432.9 crore it registered in the September 2024 quarter.

"Q2 'FY26 has been a strong quarter for us, marked by broad-based performance across our business. We delivered our second consecutive quarter of growth with margin improvement ahead of plan. We are committed to becoming an AI-centric organisation, leveraging our BlueVerseTM ecosystem," LTI Mindtree Chief Executive Officer and Managing Director Venu Lambu said in a statement.

The company's top revenue contributor, BFSI (Banking, Financial Services, and Insurance), grew by 6.5% YoY, accounting for 36.2% of its total revenue during the reported quarter. Manufacturing and consumer businesses of LTI Mindtree were the top-growing segments, with an increase of 12.7% and 12.4% YoY in revenue.

The share of the technology, media, and communications vertical in the total share of the company's revenue slipped to 22.7% with a decline of 6.3% in business.

Among geographies, North America contributed 74.2% to the total revenue with a growth of 3.6% YoY. The company's business from Europe stood at 14.7% with a growth of 7.1% during the reported quarter.