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Infosys Q4 FY25 results: net profit down 11.7% to ₹7,038 crore, revenue up 7.9%
Infosys Limited reported consolidated revenue of ₹40,925 crore for Q4 FY25, up 7.9% from Q4 FY24 but down 2.0% sequentially from Q3 FY25. EBITDA was ₹9,874 crore, while net profit was ₹7,038 crore and basic EPS was ₹16.98; the company reported results on 17 April 2025.
Key points
- Revenue rose 7.9% year on year to ₹40,925 crore, while EBITDA increased 12.4% to ₹9,874 crore.
- EBITDA margin was 24.1%, compared with 23.2% in Q4 FY24 and 24.2% in Q3 FY25.
- Net profit fell 11.7% year on year to ₹7,038 crore but rose 3.2% from ₹6,822 crore in the previous quarter.
- Basic EPS was ₹16.98, down 11.8% from ₹19.25 in Q4 FY24 and up 3.3% from ₹16.43 in Q3 FY25.
- For FY25, revenue rose 6.1% to ₹162,990 crore and net profit increased 1.9% to ₹26,750 crore.
How did Infosys perform in Q4 FY25?
Infosys reported consolidated revenue of ₹40,925 crore for Q4 FY25, up 7.9% from ₹37,923 crore in Q4 FY24 but down 2.0% from ₹41,764 crore in Q3 FY25. Total income was ₹42,115 crore, up 3.6% year on year and down 1.2% sequentially. EBITDA was ₹9,874 crore, up 12.4% from ₹8,784 crore a year earlier and down 2.4% from ₹10,115 crore in the previous quarter. The EBITDA margin was 24.1%, compared with 23.2% in Q4 FY24 and 24.2% in Q3 FY25.
Net profit for the quarter was ₹7,038 crore, down 11.7% from ₹7,975 crore in Q4 FY24 but up 3.2% from ₹6,822 crore in Q3 FY25. Profit attributable to owners was ₹7,033 crore, while basic EPS was ₹16.98, down 11.8% from ₹19.25 year on year and up 3.3% from ₹16.43 sequentially. On a standalone basis, revenue was ₹34,136 crore and net profit was ₹6,628 crore.
| ₹ crore | Q4 FY25 | Q3 FY25 | Q4 FY24 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 40,925 | 41,764 | 37,923 | +7.9% | −2.0% |
| Other income | 1,190 | 859 | 2,729 | −56.4% | +38.5% |
| Total expenses | 32,452 | 32,953 | 30,412 | +6.7% | −1.5% |
| EBITDA | 9,874 | 10,115 | 8,784 | +12.4% | −2.4% |
| EBITDA margin | 24.1% | 24.2% | 23.2% | +0.9 pp | −0.1 pp |
| Profit before tax | 9,663 | 9,670 | 10,240 | −5.6% | −0.1% |
| Tax | 2,625 | 2,848 | 2,265 | +15.9% | −7.8% |
| Net profit | 7,038 | 6,822 | 7,975 | −11.7% | +3.2% |
| EPS (₹) | 16.98 | 16.43 | 19.25 | −11.8% | +3.3% |
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 Infosys' costs and profit?
Total expenses were ₹32,452 crore in Q4 FY25, up 6.7% from ₹30,412 crore in Q4 FY24 and down 1.5% from ₹32,953 crore in Q3 FY25. Employee cost rose 8.0% year on year to ₹22,015 crore, other expenses increased 3.3% to ₹9,036 crore, and depreciation rose 11.7% to ₹1,299 crore. Finance costs were ₹102 crore, down 7.3% from ₹110 crore a year earlier but up 1.0% from ₹101 crore in the previous quarter.
Other income fell to ₹1,190 crore from ₹2,729 crore in Q4 FY24, a decline of ₹1,539 crore, while it rose 38.5% from ₹859 crore in Q3 FY25. Profit before tax was ₹9,663 crore, down 5.6% from ₹10,240 crore year on year and down 0.1% from ₹9,670 crore sequentially. Tax was ₹2,625 crore, up 15.9% from ₹2,265 crore a year earlier but down 7.8% from ₹2,848 crore in the previous quarter. There was no exceptional item.
| ₹ crore | Q4 FY25 | Q4 FY24 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 0 | 0 | 0 | |
| Employee cost | 22,015 | 20,393 | +1,622 | +8.0% |
| Finance costs | 102 | 110 | −8 | −7.3% |
| Depreciation | 1,299 | 1,163 | +136 | +11.7% |
| Other expenses | 9,036 | 8,746 | +290 | +3.3% |
| Total expenses | 32,452 | 30,412 | +2,040 | +6.7% |
| Other income | 1,190 | 2,729 | −1,539 | −56.4% |
| Tax | 2,625 | 2,265 | +360 | +15.9% |
Source: Company's results filing (XBRL).
How did Infosys do in FY25 as a whole?
For FY25, Infosys reported revenue of ₹162,990 crore, up 6.1% from ₹153,670 crore in FY24. Total income increased 5.2% to ₹166,590 crore from ₹158,381 crore. Profit before tax rose 4.5% to ₹37,608 crore from ₹35,988 crore, while net profit increased 1.9% to ₹26,750 crore from ₹26,248 crore.
Basic EPS for FY25 was ₹64.5, up from ₹63.39 in FY24. The full-year operating margin was 21.1%, according to management’s earnings-call account, and free cash flow was $4.1bn. Management also said FY25 included 96 large deals worth $11.6bn.
| ₹ crore | FY25 | FY24 | Change |
|---|---|---|---|
| Revenue from operations | 1,62,990 | 1,53,670 | +6.1% |
| Profit before tax | 37,608 | 35,988 | +4.5% |
| Net profit | 26,750 | 26,248 | +1.9% |
| EPS (₹) | 64.50 | 63.39 | +1.8% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 31 March 2025, total assets were ₹148,903 crore, compared with ₹141,870 crore at 30 September 2024, while total equity rose to ₹96,203 crore from ₹90,830 crore. Cash was ₹24,455 crore, compared with ₹21,799 crore at the previous balance-sheet date. Trade receivables were ₹31,158 crore against ₹32,013 crore, and trade payables were ₹4,164 crore against ₹3,841 crore. Borrowings were ₹0 crore at both dates.
FY25 operating cash flow was ₹35,694 crore, compared with ₹25,210 crore in FY24. Investing cash flow was negative ₹1,946 crore against negative ₹5,009 crore, and financing cash flow was negative ₹24,161 crore against negative ₹17,504 crore. Capital expenditure was ₹2,237 crore, compared with ₹2,201 crore in FY24. Closing cash in the FY25 cash-flow figures was not provided.
| ₹ crore | As of 31 March 2025 | As of 30 September 2024 |
|---|---|---|
| Total assets | 1,48,903 | 1,41,870 |
| Total equity | 96,203 | 90,830 |
| Borrowings | 0 | 0 |
| Cash and equivalents | 24,455 | 21,799 |
| Inventories | 0 | 0 |
| Trade receivables | 31,158 | 32,013 |
Source: Company's results filing (XBRL).
| ₹ crore | FY25 | FY24 |
|---|---|---|
| Cash from operations | 35,694 | 25,210 |
| Cash from investing | −1,946 | −5,009 |
| Cash from financing | −24,161 | −17,504 |
| Capital expenditure | 2,237 | 2,201 |
Source: Company's results filing (XBRL).
How has Infosys done over the last 8 quarters?
Infosys reported revenue growth year on year in each of the last eight quarters. Revenue rose from ₹37,923 crore in Q4 FY24 to a quarterly peak of ₹41,764 crore in Q3 FY25, then fell to ₹40,925 crore in Q4 FY25. The EBITDA margin reached a low of 23.2% in Q4 FY24 and a high of 24.2% in Q2 and Q3 FY25 before easing to 24.1% in Q4 FY25.
Net profit reached ₹7,975 crore in Q4 FY24, declined to ₹6,374 crore in Q1 FY25, and then rose to ₹7,038 crore in Q4 FY25. The current quarter therefore shows higher revenue and profit than the preceding quarter, with margin slightly lower than Q3 FY25 and above the year-ago quarter.
Which businesses drove the quarter?
Financial Services revenue was ₹11,614 crore in Q4 FY25, up 16.0% from ₹10,010 crore a year earlier, while EBIT was ₹2,948 crore against ₹1,941 crore. Manufacturing revenue rose 16.8% to ₹6,527 crore from ₹5,589 crore, with EBIT of ₹1,196 crore compared with ₹1,081 crore. Energy, Utilities, Resources and Services recorded revenue of ₹5,308 crore, up 4.7% from ₹5,068 crore, and EBIT of ₹1,577 crore against ₹1,431 crore.
Retail revenue was ₹5,440 crore, up 0.2% from ₹5,429 crore, and EBIT was ₹1,640 crore against ₹1,864 crore. Communication revenue increased 2.8% to ₹4,798 crore from ₹4,666 crore, with EBIT of ₹836 crore compared with ₹810 crore. Life Sciences revenue was ₹2,765 crore against ₹2,762 crore, while EBIT was ₹617 crore compared with ₹632 crore. All other segments reported revenue of ₹1,076 crore, down 0.6% from ₹1,083 crore, and EBIT of ₹265 crore against ₹222 crore. Hi-Tech revenue was ₹3,397 crore and EBIT was ₹795 crore; no year-ago figures were provided.
| Segment | Revenue | Revenue YoY | EBIT | EBIT margin |
|---|---|---|---|---|
| Financial Services | 11,614 | +16.0% | 2,948 | 25.4% |
| Financial Services | 11,614 | +16.0% | 2,948 | 25.4% |
| Retail | 5,440 | +0.2% | 1,640 | 30.1% |
| Retail | 5,440 | +0.2% | 1,640 | 30.1% |
| Communication | 4,798 | +2.8% | 836 | 17.4% |
| Communication | 4,798 | +2.8% | 836 | 17.4% |
| Energy, Utilities, Resources and Services | 5,308 | +4.7% | 1,577 | 29.7% |
| Energy, Utilities, Resources and Services | 5,308 | +4.7% | 1,577 | 29.7% |
| Manufacturing | 6,527 | +16.8% | 1,196 | 18.3% |
| Manufacturing | 6,527 | +16.8% | 1,196 | 18.3% |
| Hi-Tech | 3,397 | 795 | 23.4% | |
| Hi-Tech | 3,397 | 795 | 23.4% | |
| Life Sciences | 2,765 | +0.1% | 617 | 22.3% |
| Life Sciences | 2,765 | +0.1% | 617 | 22.3% |
| All other segments | 1,076 | −0.6% | 265 | 24.6% |
| All other segments | 1,076 | −0.6% | 265 | 24.6% |
Source: Company's results filing (XBRL segment data).
What else did the company announce?
Infosys’ board approved the audited consolidated and standalone financial results for the quarter and year ended 31 March 2025, and recommended a final dividend of ₹22 per equity share. The record date for the dividend and the 44th Annual General Meeting was 30 May 2025, the meeting was scheduled for 25 June 2025, and the dividend was to be paid on 30 June 2025.
The board also approved acquisitions of MRE Consulting Limited and The Missing Link entities, including related subsidiary incorporation in the USA and Australia, and approved Mitsubishi Heavy Industries’ investment in the Infosys-led HiPUS joint venture in Japan. The company also approved the appointment of Makarand M. Joshi & Co. as secretarial auditors for five consecutive years from FY 2025-26 to FY 2029-30, subject to shareholder approval.
What did Infosys' management say?
Management said FY26 revenue growth guidance was 0% to 3% in constant-currency terms, with the guidance explicitly excluding the US energy consulting acquisition. It said FY26 operating-margin guidance was 20% to 22%, free cash flow was expected to exceed 100% of net profit, and the effective tax rate was guided at 29–30%. Salil Parekh said the environment was uncertain and that Infosys would execute its plans with agility while watching changes.
Salil Parekh said FY25 delivered 4.2% growth in constant-currency terms, a 21.1% operating margin, $4.1bn of free cash flow and $11.6bn of large deals. He also said Infosys had developed over 200 AI agents and was seeing clients move from a use-case approach to AI-led transformation. Jayesh Sanghrajka said the bottom end of guidance assumed deterioration and heightened uncertainty, while the top end assumed a steady to marginally improving environment.
Management identified tariff-related macro uncertainty, lower third-party pass-through revenue, European automotive weakness and wage increases as risks. The CFO said Infosys was on track for April wage increments and expected to hire 20,000 plus freshers in FY26. On an analyst question about deal delays, cancellations and ramp-downs, Salil Parekh said closed large deals were moving into their next phases and that a pipeline of mega deals existed, while acknowledging uncertainty in the environment.
How did Infosys shares react?
Infosys’ shares moved higher in the first 30 minutes after the filing, rising 1.8% after 5 minutes, 1.9% after 15 minutes and 3.0% after 30 minutes. On the reaction day, the stock closed 1.5% above its pre-results close of ₹1,427.7. By the next day’s close it was down 0.3% from that pre-results close, and by the fifth session it was up 3.7%.
The industry median move was 1.5% on the reaction day, 1.6% by the next day and 0.7% by five days. Infosys’ corresponding excess moves were 0.0 percentage points, negative 2.0 percentage points and 3.1 percentage points. Earlier reaction-day moves were negative 5.3% on 16 January 2025, negative 4.5% on 17 October 2024, positive 1.4% on 18 July 2024 and negative 1.3% on 18 April 2024.
| After the filing | Stock | Computers - Software & Consulting median |
|---|---|---|
| 5 minutes | +1.8% | |
| 15 minutes | +1.9% | |
| 30 minutes | +3.0% | |
| Reaction day | +1.5% | +1.5% |
| Next day | −0.3% | +1.6% |
| 5 days | +3.7% | +0.7% |
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 |
|---|---|
| 16 January 2025 | −5.3% |
| 17 October 2024 | −4.5% |
| 18 July 2024 | +1.4% |
| 18 April 2024 | −1.3% |
Source: MarketPing price-reaction measurement.
How did other Computers - Software & Consulting companies do?
Among 59 other Computers - Software & Consulting companies compared for the quarter, the median revenue growth was 9.9%. Twenty-five peers grew slower than Infosys and 34 grew faster than Infosys. Forty peers reported higher profit.
| Infosys revenue growth (YoY) | +7.9% |
|---|---|
| Median of 59 other Computers - Software & Consulting companies | +9.9% |
| Companies with slower revenue growth than Infosys | 25 of 59 |
| Companies with faster revenue growth than Infosys | 34 of 59 |
| Companies whose net profit rose | 40 of 59 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Infosys' revenue in Q4 FY25?
Revenue from operations was ₹40,925 crore, up 7.9% from ₹37,923 crore in Q4 FY24 (consolidated).
Did Infosys make a profit in Q4 FY25?
Yes. Net profit was ₹7,038 crore, against a net profit of ₹7,975 crore in Q4 FY24.
What was Infosys' EPS in Q4 FY25?
Basic earnings per share were ₹16.98, against ₹19.25 in Q4 FY24.
How did Infosys shares react to the Q4 FY25 results?
On the reaction day the stock moved +1.5% from the previous close; the median Computers - Software & Consulting stock moved +1.5%.
When did Infosys announce its Q4 FY25 results?
On 17 April 2025, in a filing to the NSE.
Sources
- Updates (NSE, 10 April 2025) · PDF
- Updates (NSE, 17 April 2025) · PDF
- The earnings call (22 April 2025)
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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