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Infinity Infoway Q2 FY27 results: net profit up 79.3% to ₹5.02 crore, revenue up 106.3%
Infinity Infoway Ltd reported consolidated revenue of ₹16.81 crore and a net profit of ₹5.02 crore for Q2 FY27, with an EBITDA margin of 47.7%. Revenue rose 106.3% from the year-ago quarter and 143.6% from the previous quarter, while basic EPS was ₹9.21. On a standalone basis, revenue was ₹16.81 crore and net profit was ₹5.02 crore.
Key points
- Consolidated revenue was ₹16.81 crore in Q2 FY27, up 106.3% from ₹8.15 crore in the year-ago quarter.
- Net profit was ₹5.02 crore, up 79.3% from ₹2.80 crore in Q2 FY26 and 148.5% from ₹2.02 crore in Q1 FY27.
- EBITDA was ₹8.02 crore at a margin of 47.7%, compared with 47.8% in Q2 FY26 and 44.9% in Q1 FY27.
- Basic EPS was ₹9.21, up from ₹7.23 in the year-ago quarter and ₹3.70 in the previous quarter.
- Total expenses rose to ₹10.55 crore from ₹4.55 crore in Q2 FY26, while other income was ₹0.50 crore.
How did Infinity Infoway perform in Q2 FY27?
Infinity Infoway reported consolidated revenue of ₹16.81 crore for Q2 FY27, against ₹8.15 crore in Q2 FY26 and ₹6.90 crore in Q1 FY27. Revenue was up 106.3% from the year-ago quarter and 143.6% from the previous quarter. On a standalone basis, revenue for the quarter was ₹16.81 crore, up 106.3% from ₹8.15 crore a year earlier.
EBITDA for the quarter was ₹8.02 crore at a margin of 47.7%, against ₹3.90 crore and 47.8% in Q2 FY26, and ₹3.10 crore and 44.9% in Q1 FY27. Net profit was ₹5.02 crore, compared with ₹2.80 crore in the year-ago quarter and ₹2.02 crore in the previous quarter. Basic EPS was ₹9.21, against ₹7.23 and ₹3.70 respectively. Standalone net profit was ₹5.02 crore, against ₹2.80 crore a year earlier.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 16.81 | 6.90 | 8.15 | +106.3% | +143.6% |
| Other income | 0.50 | 0.35 | 0.17 | +194.1% | +42.9% |
| Total expenses | 10.55 | 4.55 | 4.55 | +131.9% | +131.9% |
| EBITDA | 8.02 | 3.10 | 3.90 | +105.6% | +158.7% |
| EBITDA margin | 47.7% | 44.9% | 47.8% | −0.1 pp | +2.8 pp |
| Profit before tax | 6.76 | 2.70 | 3.77 | +79.3% | +150.4% |
| Tax | 1.74 | 0.68 | 0.97 | +79.4% | +155.9% |
| Net profit | 5.02 | 2.02 | 2.80 | +79.3% | +148.5% |
| EPS (₹) | 9.21 | 3.70 | 7.23 | +27.4% | +148.9% |
EBITDA here is revenue from operations less operating costs (total expenses excluding finance costs and depreciation): before other income and exceptional items. Growth is shown only when both figures are positive. Source: Company's results filing (XBRL).
What changed in Infinity Infoway's costs and profit?
Total expenses rose to ₹10.55 crore in Q2 FY27 from ₹4.55 crore in Q2 FY26, an increase of ₹6 crore. Employee cost was ₹4.38 crore, up ₹2.32 crore from ₹2.06 crore, while depreciation was ₹1.73 crore, up ₹1.46 crore from ₹0.27 crore. Other expenses were ₹2.40 crore, up ₹1.19 crore from ₹1.21 crore, and cost of materials was ₹1.11 crore, up ₹0.13 crore from ₹0.98 crore.
Other income was ₹0.50 crore, higher by ₹0.33 crore from ₹0.17 crore in the year-ago quarter. Profit before tax was ₹6.76 crore, up ₹2.99 crore from ₹3.77 crore, and tax was ₹1.74 crore, up ₹0.77 crore from ₹0.97 crore. There was no exceptional item in the quarter.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 1.11 | 0.98 | +0.13 | +13.3% |
| Employee cost | 4.38 | 2.06 | +2.32 | +112.6% |
| Finance costs | 0.03 | 0.02 | +0.01 | +50.0% |
| Depreciation | 1.73 | 0.27 | +1.46 | +540.7% |
| Other expenses | 2.40 | 1.21 | +1.19 | +98.3% |
| Total expenses | 10.55 | 4.55 | +6 | +131.9% |
| Other income | 0.50 | 0.17 | +0.33 | +194.1% |
| Tax | 1.74 | 0.97 | +0.77 | +79.4% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
As at 30 September 2026, total assets were ₹51.45 crore against ₹44.12 crore as at 31 March 2026, and total equity was ₹47.59 crore against ₹41.86 crore. Borrowings fell to nil from ₹0.45 crore, while cash and cash equivalents were ₹16.40 crore against ₹11.14 crore. Trade receivables rose to ₹12.57 crore from ₹9.11 crore, and trade payables were ₹0.57 crore against ₹0.07 crore.
For H1 FY27, operating cash flow was ₹5.13 crore against ₹1.20 crore in H1 FY26. Investing cash flow was ₹0.19 crore against negative ₹4.40 crore, while financing cash flow was negative ₹0.06 crore against ₹10.94 crore. Capital expenditure was ₹5.33 crore in H1 FY27, compared with ₹2.24 crore in H1 FY26.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 51.45 | 44.12 |
| Total equity | 47.59 | 41.86 |
| Borrowings | 0 | 0.45 |
| Cash and equivalents | 16.40 | 11.14 |
| Inventories | 0 | 0 |
| Trade receivables | 12.57 | 9.11 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 5.13 | 1.20 |
| Cash from investing | 0.19 | −4.40 |
| Cash from financing | −0.06 | 10.94 |
| Capital expenditure | 5.33 | 2.24 |
Source: Company's results filing (XBRL).
How has Infinity Infoway done over the last 5 quarters?
Revenue moved unevenly over the last five quarters, falling from ₹8.15 crore in Q2 FY26 to ₹6.02 crore in Q3 FY26 before rising to ₹15.62 crore in Q4 FY26. It then eased to ₹6.90 crore in Q1 FY27 and rose to ₹16.81 crore in Q2 FY27, the highest of the period.
Net profit followed a similar pattern, from ₹2.80 crore in Q2 FY26 to ₹1.57 crore in Q3 FY26, then ₹4.21 crore in Q4 FY26 and ₹2.02 crore in Q1 FY27 before reaching ₹5.02 crore in Q2 FY27. EBITDA margin was lowest at 34.9% in Q3 FY26, and the Q2 FY27 figure of 47.7% was close to the 47.8% recorded in Q2 FY26.
What did Infinity Infoway's management say?
Management said the order book stood at ₹78 crores as on 30 September 2026 and that the company plans to maintain its current growth run rate. “To make better than this will always be a difficult. But as per our order book and our business plan, we are planning to and we have a pipeline to maintain the same run rate,” said Bhaveshkumar Gadhethriya. No explicit FY27 or FY28 revenue number was given.
Management guided ZeroTouch to contribute 20-22% of revenue over the next two years, at a margin cited as more than 60%, while noting that the product is capex-heavy. Revenue from ZeroTouch was booked at a nominal level in H1 FY27, and management expects a good amount in Q3 FY27 as the examination cycle began in October.
Management expects international revenue to start in FY27, with a phased entry into the Gulf, followed by Southeast Asia and Europe. “Ma'am, inspirationally, we are expecting this financial year revenue from the international. But you know that current situation of international market is not that much favorable,” said Gadhethriya. The team was expanded from 156 to 178 to support coverage across more than 10 states, which management linked to higher employee cost.
How did Infinity Infoway shares react?
The filing was released in market hours on 21 October 2026, and the stock moved 3.5% within 30 minutes of the news, after falling 0.8% at the 15-minute mark. By the close of the reaction day it was up 2.5% from the pre-results close of ₹599.95, against a 1.8% fall for the industry median, an excess return of 4.3 percentage points.
Past results-day moves were mixed: the stock was flat on 11 August 2026, up 3.6% on 4 May 2026, down 4.4% on 29 January 2026 and down 2.4% on 12 November 2025.
| After the filing | Stock | IT Enabled Services median |
|---|---|---|
| 15 minutes | −0.8% | |
| 30 minutes | +3.5% | |
| Reaction day | +2.5% | −1.8% |
| Next day | +0.8% | −2.4% |
| 5 days | +9.0% | −3.5% |
Minutes are measured from the price when the filing appeared; days from the previous close. Source: MarketPing price-reaction measurement.
| Results filed on | Stock on the reaction day |
|---|---|
| 11 August 2026 | −0.0% |
| 4 May 2026 | +3.6% |
| 29 January 2026 | −4.4% |
| 12 November 2025 | −2.4% |
Source: MarketPing price-reaction measurement.
How did other IT Enabled Services companies do?
Among 27 IT Enabled Services companies that have filed for this quarter, the median revenue growth was 22.5%, compared with Infinity Infoway's 106.3%. Of the peers compared, 23 grew slower than the company and 4 grew faster. Of the 24 peers for which profit was compared, 18 reported higher profit.
| Infinity Infoway revenue growth (YoY) | +106.3% |
|---|---|
| Median of 27 other IT Enabled Services companies | +22.5% |
| Companies with slower revenue growth than Infinity Infoway | 23 of 27 |
| Companies with faster revenue growth than Infinity Infoway | 4 of 27 |
| Companies whose net profit rose | 18 of 24 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Infinity Infoway's revenue in Q2 FY27?
Revenue from operations was ₹16.81 crore, up 106.3% from ₹8.15 crore in Q2 FY26 (consolidated).
Did Infinity Infoway make a profit in Q2 FY27?
Yes. Net profit was ₹5.02 crore, against a net profit of ₹2.80 crore in Q2 FY26.
What was Infinity Infoway's EPS in Q2 FY27?
Basic earnings per share were ₹9.21, against ₹7.23 in Q2 FY26.
How did Infinity Infoway shares react to the Q2 FY27 results?
On the reaction day the stock moved +2.5% from the previous close; the median IT Enabled Services stock moved −1.8%.
When did Infinity Infoway announce its Q2 FY27 results?
On 21 October 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for 1.Financial Results For The Half Year Ended On 30.09.2026 2. Any Other Business With Permission Of Chair If Any (BSE, 16 October 2026) · PDF
- Board Meeting Outcome for 1.TO Considered And Approved The Standalone And Consolidated Financial Result For The Half Year Ended On 30.09.2026 2. General Discussion (BSE, 21 October 2026) · PDF
- The earnings call (26 October 2026)
How this was written: every figure in the tables and charts is calculated from the company’s filed results (XBRL) and MarketPing’s price measurements. The text is drafted with AI from those figures and the filings, and a checker removes any sentence carrying a number it cannot trace to them. How we write these.
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