Infosys Q4 FY25: Revenue Up 7.9%, Profit Down 11.8%

Infosys Limited reported its consolidated results for the fourth quarter and full year ended March 31, 2025, with revenue growth but a drop in quarterly profit. Q4 FY25 revenue rose 7.9% year-on-year to ₹40,925 crore, reflecting steady topline traction despite a mixed demand backdrop for IT services. Net profit for the quarter fell 11.8% YoY to ₹7,038 crore, underscoring margin and cost pressures in a volatile macro environment. The announcement triggered mild fluctuations in the Infosys share price as investors weighed revenue momentum against weaker profitability. Analysts also focused on the company’s deal wins, margin commentary, and its revenue guidance for the next fiscal year.

Q4 FY25 headline numbers at a glance

The quarter delivered a clear split between revenue and profit trends. Revenue from operations was reported at ₹40,925 crore, up from ₹37,923 crore in Q4 FY24. In US dollar terms, Infosys reported Q4 FY25 revenue of $1.7 billion, with another note indicating a 4.2% sequential decline in dollar revenue. Profitability was softer, with net profit reported at ₹7,033 crore in one update and ₹7,038 crore in another, both pointing to an about 12% YoY decline versus ₹7,969 crore a year ago. The company also said operating margins remained steady around the low-20% band, a key metric investors track closely in IT services.

Revenue growth, but profitability pressure

Infosys’ revenue increase came amid a broader environment of delayed client decision-making and reduced discretionary spending, particularly noted by analysts tracking the sector. Even as the company expanded revenue year-on-year, the decline in profit highlighted the sensitivity of earnings to costs and utilisation trends. The macro narrative in the provided updates repeatedly referenced uncertainty and client caution. CEO Salil Parekh said the environment remains uncertain and the company is keeping a close watch. Market sentiment stayed cautious because the quarter combined revenue growth with a visible drop in profitability.

Operating margin: steady, but closely watched

Operating margin for Q4 FY25 was cited at 20.1% in the highlights, while another update pegged EBIT margin at 21% for the quarter. A CNBC-TV18 analyst poll referenced an expectation of 20.7% EBIT margin, and the reported 21% was described as ahead of that estimate. Another brokerage note (Motilal Oswal) put EBIT margins at 21% versus its estimate of 20.6%. These figures reinforced that margins were holding up better than profit growth, but the market still focused on the profit decline and the forward guidance.

Deal wins: $1.6 billion in Q4, lower YoY

Large deal wins were a key talking point in the quarter. Infosys reported large deal total contract value (TCV) of $1.6 billion in Q4 FY25, down from $1.5 billion in the same quarter last year. Another update noted large deal TCV of $1.6 billion versus $1.5 billion in Q3, up 4% quarter-on-quarter, while also stating that net new TCV was down 24.7% QoQ and the book-to-bill ratio was 0.5x. For the full year, FY25 large deal TCV was stated at $11.6 billion. Analysts highlighted the need to monitor deal pipeline conversion and deal wins, especially with macro pressures and changing client demands.

Dividend announcements and shareholder payouts

Infosys announced dividends alongside the results, which remained a key point for retail and long-term investors. The highlights stated a final dividend of ₹20 per share and a special dividend of ₹8 per share. Separately, another results update stated Infosys declared a final dividend of ₹22 per equity share for the financial year ended March 2025. These figures were referenced in different updates within the provided material, and they contributed to post-results investor focus.

Guidance: FY26 growth band stays muted

Infosys guided for FY26 constant currency (CC) revenue growth of 0-3% and operating margin of 20-22%, according to the updates provided. Another quick insight line referenced FY25 revenue guidance projected at 1%-3% in constant currency terms, but the broader set of updates repeatedly framed 0-3% as the FY26 CC revenue growth guidance. A separate note added that this guidance implies a CQGR of +0.5% to +1.5% over the next four quarters. Management commentary also referenced internal efficiency efforts, including Project Maximus, with CFO Jayesh Sanghrajka stating FY25 operating margins expanded by 0.5%.

How Q4 numbers compared with analyst expectations

One update said the Q4 headline numbers failed to meet the CNBC-TV18 analyst poll. The reported net profit of ₹7,033 crore trailed the polled figure of ₹7,278 crore. Reported revenue of ₹40,925 crore was below the polled ₹42,133 crore, and reported EBIT of ₹8,575 crore was below the polled ₹8,742 crore. However, reported EBIT margin of 21% was above the 20.7% expectation in that poll. These comparisons fed into the cautious market reaction.

Key numbers table: Q4 FY25 and guidance

What investors tracked next: dates and broker estimates for FY26 Q4

Beyond FY25 results, the provided material also included a separate set of dates and broker estimates for the next results cycle in April 2026. A key facts table listed April 23, 2026 (after market hours) as the Infosys Q4 FY26 results date, with the board meeting scheduled for April 22-23, 2026. The trading window was stated as closed from March 16, with re-opening expected around April 27. Broker estimates varied: IDBI Capital estimated Q4 revenue at ₹46,622.2 crore and profit at ₹7,692.7 crore with an EBIT margin estimate of 21.40%, while Centrum estimated revenue at ₹46,738.9 crore and profit at ₹7,790.6 crore. Another brokerage, Nuvama, expected revenue of ₹46,300 crore and net profit around ₹7,541 crore.

Conclusion

Infosys’ Q4 FY25 results showed revenue growth to ₹40,925 crore but a double-digit YoY decline in net profit to about ₹7,033 crore to ₹7,038 crore. Margins were reported around 20.1% to 21%, while large deal TCV of $1.6 billion was lower than the year-ago quarter. The company’s FY26 guidance of 0-3% CC revenue growth and 20-22% operating margin kept investor focus on demand commentary, deal execution, and cost efficiency initiatives such as Project Maximus. The next major checkpoint highlighted in the provided material is the April 22-23, 2026 board meeting and the April 23, 2026 results announcement, where broker estimates point to a wide range of outcomes on revenue, profit, and margins.