IT Q4 results today: Infosys, LTI, Cyient estimates

Results day focus for Indian IT

Infosys, LTIMindtree and Cyient are set to announce their March-quarter (Q4FY26) results on Thursday, April 23. The session is part of a heavier earnings calendar, with as many as 30 companies scheduled to report results the same day. Alongside earnings, investors will also watch for any announcement of final dividends for FY26.

For the three IT names, the key near-term cues are expected to come from sequential (QoQ) revenue movement, operating performance, and margins. Bloomberg-compiled consensus estimates in the live updates suggest a mixed quarter, with revenue expected to rise for Infosys and LTIMindtree but fall for Cyient, while profit estimates indicate growth for all three.

Bloomberg consensus: what the Street is pencilling in

The consensus numbers below are presented on a consolidated, quarter-on-quarter basis as given in the updates. Revenue and operating profit are shown in ₹ crore, and margins in percent.

Infosys: guidance and margins remain the key trigger

For Infosys, Bloomberg consensus expects Q4 revenue at ₹46,135 crore versus ₹45,479 crore in the prior quarter. EBIT is seen at ₹9,793 crore versus ₹9,644 crore, while operating margin is estimated at 21.14% versus 18.37%. Profit is seen at ₹7,496 crore versus ₹7,374 crore.

Separate brokerage commentary in the provided updates flagged guidance as the key stock trigger. The preview notes that most brokerages are projecting constant currency revenue growth of 2% to 5% and margins in the 20% to 22% range, with ICICI Securities seeing growth at 3% to 5% and Jefferies and Nuvama estimating a 2% to 5% range. The live coverage also noted that the company is expected to post a subdued March quarter, with sequential revenue softness attributed to seasonal factors and fewer billing days.

Another schedule detail highlighted that Infosys is expected to declare Q4FY26 results around 3:45 p.m. IST on Thursday, April 23.

LTIMindtree: revenue up, margin seen lower

For LTIMindtree, consensus estimates point to revenue of ₹11,197 crore versus ₹10,781 crore in the prior quarter. EBIT is seen at ₹1,719 crore versus ₹1,737 crore, implying a slightly softer margin of 15.45% compared with 16.11%. Profit is estimated at ₹1,392 crore versus ₹971 crore.

A separate sector preview in the provided material said LTIMindtree is expected to lead with 1.4% growth in constant currency, while the broader sector faces a seasonally weaker quarter. That note also flagged margin pressure from wage hikes and client issues, and described AI as a near-term pricing risk but a longer-term market expansion opportunity.

Cyient: revenue seen lower, profitability expected to improve

Cyient’s consensus numbers show revenue estimated at ₹1,748 crore versus ₹1,848 crore in the prior quarter. EBIT is seen rising to ₹212 crore from ₹175 crore, with margin estimated at 11.1% versus 9.04%. Profit is seen at ₹165 crore versus ₹92 crore, a sharp sequential improvement based on the estimates.

The direction of Cyient’s estimates suggests the market will closely watch whether operating leverage and cost actions can offset a quarter-on-quarter dip in the top line. With margins expected to improve in the consensus set, investors may also focus on management commentary on demand conditions and execution.

A crowded Q4 results calendar on April 23

The April 23 results list in the updates includes several non-IT names alongside the three IT firms. Important firms mentioned as reporting include Union Bank of India, Indian Energy Exchange, Aditya Birla Sun Life AMC, Sterling and Wilson Renewable Energy, Adani Energy Solutions, Tata Capital and UTI Asset Management.

The broader “results today” list in the provided text also includes Aditya Birla Sun Life AMC, Adani Energy Solutions, Aurum PropTech, BlueStone Jewellery and Lifestyle, CIE Automotive India, Gujarat Hotels, Mahindra Logistics, UTI Asset Management, Hindustan Composites, and others.

Market context: sector caution and valuation reset

The sector preview in the material pointed to a valuation and sentiment reset in technology stocks, noting the Nifty IT index is down about 25% year-to-date. In that backdrop, earnings and management commentary can shape short-term positioning, particularly around margins, deal momentum, and the demand environment.

The same preview added that, looking ahead, Infosys has projected FY27 revenue growth of 5% to 8% in constant currency, and that a key focus for the company is sustaining large deal Total Contract Value above $1.5 billion.

What to track beyond the headline numbers

Across the three companies, the first level of scrutiny will be on whether reported revenue and operating margins align with the Bloomberg consensus. For Infosys specifically, the updates repeatedly emphasised the importance of guidance and the deal pipeline.

The provided text also included a separate set of commentary points: expectations of 13% to 15% CAGR over the next three years, an increase in the number of AI patents, expectations that continuing business will grow sequentially, large deal wins of $155 million, and a view that H2 is better than H1, with the technology segment doing well. Since these points were presented as bullets without clear attribution in the excerpt, investors typically look for clarity on which business line or company commentary they belong to when management speaks.

Market impact: why these prints matter for investors

For large-cap IT, quarterly results can shift expectations on growth, margins and capital returns, especially when guidance is in focus. In the case of Infosys, the broker commentary cited in the updates frames the FY27 outlook and margin range as central to how the market may interpret the quarter.

For LTIMindtree and Cyient, the consensus points to different narratives. LTIMindtree’s estimates indicate steady revenue growth but a softer margin, while Cyient’s estimates show a revenue decline paired with stronger profitability. With the sector also navigating AI-related pricing debates, commentary on deal conversion, utilisation, and cost actions can influence how investors assess the sustainability of the quarter’s trends.

Conclusion

April 23 is a key Q4 results day for Indian IT, with Infosys, LTIMindtree and Cyient expected to report alongside a wider slate of companies. Bloomberg consensus suggests modest sequential changes in revenue for Infosys and LTIMindtree, a decline for Cyient, and differing margin trajectories across the three. The next major datapoints will be the reported numbers versus these estimates, any final dividend announcements for FY26, and for Infosys, the FY27 guidance commentary expected to drive near-term market reaction.