Bengaluru, India : Infosys(NSE, BSE, NYSE: INFY), a global leader in AI-first business consulting and technology services, delivered $5,145 million in Q2 revenues, year on year growth of 1.5% and sequential growth of 1.2% in constant currency. Operating margin was stable at 21.0%.EPSgrowthwas8.7%yearonyearinrupeeterms.TCVoflargedealwinswas$5.2billion,with 62% net new.

H1revenuesgrewat1.9%yearonyearinconstantcurrency.OperatingmarginforH1wasat21.0%.
“We had strong large deals of $5.2 billion, including a mega deal of over $2 billion, reinforcing our position as a trusted partner in the marketplace when clients embark on large and complex transformation programs.

Our AI revenue was at 10.5% and grew 29% quarter-on-quarter.As enterprises move to AI adoption at scale, the strong growth in AI revenues is a recognition of our differentiated market positioning and client confidence,” said Salil Parekh, CEO and MD. “We are advisingsomeofthelargestglobalenterpriseontheirAIstrategyandcontinuetoinvestindeepdomain and technologycapabilities tobring newideas and an integratedecosystemto help businesses unlock AI value at scale,” he added.

1.2% QoQ 1.5% YoY CC Growth
21.0% Operating Margin
8.7% YoY EPS Increase (₹ terms)
$5.2Bn Large Deal TCV (62% Net New)
$0.93 Bn Free Cash Flow (FCF)
10.5% AI as a % of Revenue

GuidanceforFY27:
• Revenue growth of 1%-2%inconstant currency
• Operatingmargin of 20% -22%

Key highlights:

“We delivered operating margins of 21.0% in Q2 amidst heightened volatility. Focus on cost and operationalefficiencymeasureswhilemakingtherequiredinvestments,haveledtostablemargins,”said JayeshSanghrajka,CFO.“Freecashflowof$928million,representing113.3%ofnetprofit,underscores thefinancialstrengthofthebusiness.TheBoardhasannouncedaninterimdividendof₹26pershare,an increase of 13% from last year,” he added.

ClientWins&Testimonials

• InfosyscollaboratedwithMondelezInternationaltodriveitssupplychaintransformationthrough AI-enableddecision-making,datastandardization,andintelligententerpriseworkflows.Sanjay Gurbaxani, Global Vice President, Digital Supply Chain, Mondelez International, said, “From digitally connected supply chain to standardizing data and enabling more informed decision-making, the opportunity lies in bringing together people, processes, data, and technology to deliver meaningful business outcomes. As AI evolves towards agentic AI, the potential extends beyond generating insights to enable more autonomous, responsive, and intelligentworkflows.Therealvaluecomesfromembeddingintelligenceintoeverydaybusiness decisions, rethinking established processes, and scaling solutions across the enterprise. With Infosyswearebuildingacompellingsolutionwheretechnology,alignedwithbusinesspriorities, can become a catalyst for operational excellence and long-term impact.”
• Infosys entered a ten-year strategic agreement with Crocs, Inc. to accelerate its IT transformation and support scalable global growth. Tom Britt, Chief Information Officer, Crocs, Inc. said, “As our organization reimagines its IT landscape, we sought a collaborator who could combine deep domain expertise with a commitment to innovation and operational excellence. By leveraging Infosys’ proven delivery frameworks and advanced automation capabilities, we will optimize operations, reduce costs and scale responsibly—while driving continuousimprovementandbuildingafoundationforsustainablegrowthanddigitalresilience that positions Crocs, Inc. for the future.”
• Infosys collaborated with Knorr-Bremse to accelerate its AI-enabled enterprise transformation. Satheeskaran Navaratnam, Chief Digital Officer & VP Transformation & Governance IT, Knorr-Bremse, said, “At Knorr-Bremse, we are building a future-ready technology foundation that supports innovation and long-term value creation. Our Tech4Value program is central to this journey, helping us create a more agile, efficient, and scalable IT environment across the organization.ByworkingwithInfosys, weaimtomakeourtechnology estate as optimizedand reliableasthesystemswebuildforourcustomers,ensuringthateverylayerofourinfrastructure is equipped to support the pace of change our business demands.”
• Infosys expanded collaboration with Metsä Group to drive AI-led transformation of its IT landscape. Kristiina Lammila, Chief Information Officer of Metsä Group, said, “This engagement marks a new chapter in Metsä’s long-standing collaboration with Infosys, as we simplifyandtransformourITsourcingmodeltomeettheefficiencydemandsoftoday’sbusiness environment. Weareconfident in ourjointabilityto deliveronthesetargets andacceleratethe transformation of Metsä’s IT, powered by AI.”
• Infosys collaborated with NTN Corporation to drive its digital growth with seamless SAP cloud adoption. Kenji Kitazato, Head – ICT Strategy Department, NTN Corporation, said, “This migration to SAP Commerce Cloud powered by Infosys has streamlined our IT operations, improved agility, and laid a strong foundation for future digital growth. This transformation enables us to utilize this new foundation and further promote the use of digital technology.”
• Infosys collaborated with Telia to drive AI-powered transformation across its network and cybersecurityoperations.HeinMüskens,GroupCIO,Telia,said,”Infosys’provenexpertisein AI, automation, and telecom transformation made them the ideal partner for this initiative. Leveraging Infosys Topaz and deep industry knowledge, we look forward to accelerating the modernization of our network and cybersecurity operations, enhancing efficiency and agility, and strengthening our foundation for future innovation.”
• Infosys collaborated with KnitWell Group to develop an AI-powered platform for its customer engagement.JaapvanRiel,CTO,KnitWellGroup,said,“Ourrelationshipwithourcustomers

truly comes to life in our stores. That’s why we partnered with Infosys to build the Engage platform and help our store associates reach customers in amore efficient and engaging way. Onceweidentifiedtheopportunity,Infosyswasquicktodevelopasolutionandapproach.From there, we engineered and built Engage together, and we’ve seen great results.”
• Infosys Finacle was selected byInvestecto driveits digitalbanking transformation throughthe Finacle SaaS platform on Microsoft Azure. Lyndon Subroyen, Global Head of Digital and Technology for Investec Group, said, “Our partnership with Infosys Finacle and Microsoft Azure marks a step change in our digital transformation journey. We are building a stronger digital foundation that allows us to scale with our clients, deliver a more seamless and personalized experience, and operate with greater precision. Digital is no longer a layer that supports the business, it is integral to how we grow, deepen client relationships, and improve our efficiency”.
Recognitions&Awards Brand & Corporate
• RecognizedasoneofIndia’sBestEmployersAmongNation-BuildersbyGreatPlacetoWork® for the sixth year in a row.
• Recognized across fourAvtar &Seramount indices, including Hall of Fame – Best Companies for Women India 2026; Exemplar in the Most Inclusive Companies Index India 2026; Top 10 Best Companies for Workplace Wellness (BCWW); and Top 10 Best Companies for ESG (BCESG).
• Received three Brandon Hall Group™ 2026 HCM Excellence Awards® for Best Corporate Learning University; Best Senior Manager Development Program; and Best Sourcing and Assessment Strategy.
• Received The Asset Corporate Sustainability Leadership Awards 2026 in four categories – PlatinumAward;BestinTransition;BestInitiativeinEnvironmentalResponsibilityfortheInfosys Agroforestry Program; and Best Investor Relations Team.
• Infosys BPM honored with multiple Tata Institute of Social Sciences LeapVault CLO Awards India for Best Skill Development Initiative, Best Corporate University, and Best Diversity & Inclusion Training Program.
• InfosysBPMwonthe17thCSRSummit&Awards2026forBestSkillDevelopmentInitiative.

AIandCloudServices
• RatedasaLeaderintheGartner®MagicQuadrant™forPublicCloudOptimizationand Transformation Services.
• Recognized as a Leader in the IDC MarketScape: Worldwide Cloud Professional Services in the AI Era 2026 Vendor Assessment.
• PositionedasaLeaderamongthetopprovidersintheEverestGroupMicrosoftAzureServices PEAK Matrix® Assessment 2026.
• PositionedasaLeaderintheEverestGroupQualityEngineering(QE)ServicesforAIApplications and Systems PEAK Matrix® Assessment 2026.
• Featured as a Leader in the NelsonHall NEAT Evaluation for AI-Enabled Cloud Infrastructure Management Services.
• RecognizedasaLeaderinthe2026ConstellationShortList™forAI Services.

• RecognizedasaLeaderonthe2026ConstellationShortList™forPublicCloudTransformation Services.
• RecognizedasaLeaderinthe2026ConstellationShortList™forArtificialIntelligenceand Machine Learning Best-of-Breed Platforms.
• RecognizedasaLeaderinthe2026ConstellationShortList™forDecisionIntelligencePlatforms.
KeyDigitalServices
• RatedasaLeaderinTheForresterWave™:InfrastructureOutsourcingServices,Q32026.
• RecognizedasaLeaderintheIDCMarketScape:WorldwideServiceNowImplementation Services 2026 Vendor Assessment.
• Recognized as a Leader in the IDC MarketScape: Worldwide Oracle Implementation Services 2026 Vendor Assessment.
• Recognizedas aLeaderin theIDCMarketScape:WorldwideDigitalWorkplaceServices2026 Vendor Assessment.
• PositionedasaLeaderintheEverestGroupDigitalWorkplaceServices(DWS)PEAKMatrix® Assessment 2026: North America.
• PositionedasaLeaderintheEverestGroupDigitalWorkplaceServices(DWS)PEAKMatrix® Assessment 2026: Europe.
• PositionedasaLeaderintheEverestGroupRetailDigitalServicesPEAKMatrix®Assessment 2026.
• Positioned as a Leader in the Everest Group GCC Setup Capabilities in India PEAK Matrix® Assessment 2026.
• Recognized as a Leader in the 2026 Constellation ShortList™ for AI-Native Global Capability Center (GCC) Services.
• RatedasaLeaderinHFSHorizons:CustomerExperienceServices,2026.
• FeaturedasaLeaderintheNelsonHallNEATEvaluationforSalesforceServices2026.
• FeaturedasaLeaderintheNelsonHallNEATEvaluationforSAPEcosystem Services.
• Infosys BPM received the Avasant Digital Masters: Technology and Process Transformation Leaders Award at Avasant Partner Connect 2026.
• Infosys BPM received three GSA UK Awards 2026 for Service Provider of the Year (Large); BusinessServicesProgrammeoftheYearwithMicrosoft;andCollaborationProgrammeofthe Year with Lloyd’s Register.
Industry& Solutions
• Recognized as a Leader in the IDC MarketScape: Worldwide AI-Driven Professional Services for Oil and Gas Companies 2026 Vendor Assessment.
• Recognized as a Leader in the IDC MarketScape: Worldwide AI-Driven Digital Strategy andConsulting Services for Oil and Gas Companies 2026 Vendor Assessment.
• Positioned as a Leader in the Everest Group Pharmaceutical R&D IT Services PEAK Matrix® Assessment 2026.
• PositionedasaLeaderintheEverestGroupLifeandAnnuity(L&A)InsuranceITServices PEAK Matrix® Assessment 2026.
• Infosys Finacle recognized as a Leader in the IDC MarketScape: Worldwide Trade FinanceSystems 2026 Vendor Assessment.

• Infosys Finacle rated as a Leader in the 2026 Gartner® Magic Quadrant™ for Retail Core Banking Systems in Europe.
• Infosys Finacle received Global BankTech Awards 2026 by the Digital Banker 2026 in three categories:Outstanding Trade Finance Solution by a Vendor; Best Liquidity Management Solutions Provider by a Vendor; and Best Treasury Management Solutions Provider by a Vendor.
ReadmoreaboutourAwards&Recognitionshere.

About Infosys
Infosys(NSE, BSE, NYSE: INFY) is a global leader in AI first business consulting and technology services. Over 325,000 of our people work to amplify human potential and create the next opportunity for people, businesses, and communities. As navigators ofenterprisetransformation,weenablebusinessesin59countriesto unlock AI value at scale. With over four decades of experience in managing the systems and workings of global enterprises, we accelerate business transformation through our AI-first value framework, deep domain expertise, and our unique ability to orchestrate innovations from our AI-native partner ecosystem. Infosys is recognized as the fastest growing IT services brand globally, committed to being a well-governed, environmentally sustainablepartner for our clientswhere deeptalentexpertise,inan inclusive workplace, help them navigate their next.

Safe Harbor
Certainstatementsinthisrelease,includingthoseconcerningourfutureevents,futuregrowthprospects,ourfuture financialoroperatingperformanceandourofferingsandcollaborations,are“forwardlookingstatements”intended to qualify for the ‘safe harbor’ under the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on our current expectations, assumptions, estimates and projections about the Company, our industry, economic conditions in the markets in which we operate, and certain other matters. These forward-lookingstatementsaresubjecttosubstantialknownandunknownrisks,uncertaintiesandother factors,thatcould cause actual results or outcomes to differ materially from those implied by such forward-looking statements. Important factors that may cause actual results or outcomes to differ from those implied by the forward-looking statementsinclude,butarenotlimitedto,risksanduncertaintiesregardingtheexecutionofourbusinessstrategy, increasedcompetitionfortalent,ourabilitytoattractandretainpersonnel,increaseinwages,investmentstoreskill our employees, our ability to effectively implement a hybrid work model, economic uncertainties and geo-political situations, technological disruptions and innovations such as artificial intelligence, the complex and evolving regulatorylandscapeincludingimmigrationregulationchanges,particularlyintheUnitedStates,ourEnvironmental, Social, Governance (“ESG”) vision, our capital allocation policy and expectations concerning our market position, futureoperations,margins,profitability,liquidityandcapitalresources,ourcorporateactionsincludingacquisitions, cybersecurity matters, the outcome of pending litigation and the US government investigation, and the effect of current and future tariffs. These and additional factors that may cause actual results or outcomes to differ from those implied by the forward-looking statements are discussed in more detail in our US Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2026. These filings are available at www.sec.gov. In light of these and other uncertainties, you should not conclude that the results or outcomes referred to in any of the forward-looking statements will be achieved. Infosys may, from time to time, make additional written and oral forward-looking statements, including statements contained in the Company’s filings with the Securities and Exchange Commission and our reports to shareholders. The Company does notundertake toupdateany forward-lookingstatements that may bemadefromtimetotimeby or onbehalf of the Company unless it is required by law.

Contact
InvestorRelations SandeepMahindroo
+91803980 1018
Sandeep_Mahindroo@infosys.com
MediaRelations RishiBasu
+91804156 3998
Rajarshi.Basu@infosys.com

ChadDarwin
+13234223815
Chad.darwin@infosys.com

InfosysLimitedandSubsidiaries
ExtractedfromtheCondensedConsolidatedBalanceSheetunderIFRSasat: (In₹ crore)
Particulars September30,2026 March31,2026
ASSETS
Currentassets
Cashandcash equivalents 24,350 22,201
Currentinvestments 13,761 12,950
Tradereceivables 34,821 35,234
Unbilledrevenue 16,609 15,483
Othercurrentassets 16,210 17,621
Totalcurrentassets 105,751 103,489
Non-current assets
Property,plantandequipmentandRight-of-useassets 19,820 19,508
GoodwillandotherIntangibleassets 19,289 14,942
Non-currentinvestments 8,390 8,930
Unbilledrevenue 2,146 1,738
Othernon-current assets 8,084 7,360
Totalnon-current assets 57,729 52,478
Totalassets 163,480 155,967
LIABILITIESAND EQUITY
Currentliabilities
Tradepayables 4,498 4,744
Unearnedrevenue 11,823 11,838
Employeebenefitobligations 3,546 3,524
Othercurrentliabilitiesandprovisions 33,714 32,216
Totalcurrentliabilities 53,581 52,322
Non-current liabilities
Leaseliabilities 4,942 6,016
Othernon-currentliabilities 5,414 4,332
Totalnon-currentliabilities 10,356 10,348
Totalliabilities 63,937 62,670
Totalequityattributabletoequityholdersofthecompany 99,077 92,852
Non-controllinginterests 466 445
Totalequity 99,543 93,297
Totalliabilitiesand equity 163,480 155,967
ExtractedfromtheCondensedConsolidatedStatementofComprehensiveIncomeunderIFRSfor:
(In₹croreexceptperequity sharedata)

Particulars 3monthsended
September30,
2026 3monthsended
September30,
2025 6monthsended
September30,
2026 6monthsended
September30,
2025
Revenues 49,244 44,490 97,454 86,769
Cost ofsales 33,943 30,800 66,975 60,025
Grossprofit 15,301 13,690 30,479 26,744
Operating expenses:
Sellingandmarketingexpenses 2,489 2,224 5,057 4,431
Administrativeexpenses 2,482 2,113 4,928 4,156
Totaloperatingexpenses 4,971 4,337 9,985 8,587
Operating profit 10,330 9,353 20,494 18,157
Otherincome,netoffinancecost 733 876 1,597 1,813
Profitbeforeincometaxes 11,063 10,229 22,091 19,970
Incometax expense 3,225 2,854 6,478 5,670
Netprofit(beforenon-controllinginterests) 7,838 7,375 15,613 14,300
Netprofit(afternon-controllinginterests) 7,823 7,364 15,592 14,285
BasicEPS(₹) 19.32 17.76 38.51 34.47
DilutedEPS(₹) 19.30 17.74 38.46 34.41

NOTES:

a) The above information is extracted from the audited condensed consolidated Balance sheet and Statement of Comprehensive Income for the quarter and six months ended September 30, 2026, which have been taken on record at the Board meeting held on October 23, 2026.

b) Revenue growth in reported currency includes the impact of currency fluctuations. Additionally, we calculate constant currency(CC)growthbycomparingcurrentperiodrevenuesinrespectivelocalcurrenciesconvertedtoUS$usingprior period exchange rates and comparing the same to our prior period reported revenues.

c) AFactSheetprovidingtheoperatingmetricsoftheCompanycanbedownloadedfromwww.infosys.com.

d) As the quarter and six months ended figures are taken from the source and rounded to the nearest digits, the quarter figures in this statement added up to the figures reported for the previous quarter might not always add up to the six months ended figures reported in this statement.