IT Q2 Results FY27: TCS, Infosys, HCLTech, Wipro & Tech Mahindra - Who led in revenue, profit, AI, guidance & hiring?
India's five major IT firms reported mixed Q2 FY27 results. Tech Mahindra and HCLTech saw 3% sequential revenue growth in rupee terms. TCS had the highest operating margin at 24%. Infosys reported 29% sequential AI revenue growth but lowered its FY27 guidance. Wipro's IT services revenue was flat. HCLTech had the largest margin improvement, while Wipro's net income declined 4.7%.
How this was made
The 30-second read
Why it matters
Mixed results suggest divergent trajectories; AI growth is a positive catalyst, while revenue guidance cuts raise concerns.
Market read
Earnings data provides fresh guidance and performance metrics for investors tracking Indian IT ADRs.
What to watch
Currency fluctuations and contract win volumes may affect future quarters more than current guidance.
Background
Quarterly earnings season for Indian IT firms, a key sector for global tech services exposure.
Ticker impact
Infosys Q2 FY27 AI revenue rose 29% sequentially but lowered FY27 revenue growth guidance to 1‑2%.
potential slight downside pressure as guidance is trimmed.
Guidance cut signals slower revenue growth despite AI upside.
Market effects
Indian IT sector shows mixed earnings, with AI revenue growth offset by slower overall revenue guidance.
Results may influence Indian market sentiment and foreign investor flows into ADRs.
Limited global impact; primarily relevant to investors in Indian IT ADRs.
Counterpoint
Despite guidance cuts, AI revenue acceleration could position Infosys and HCLTech for longer‑term upside.
Key entities
- companyTata Consultancy Services
India's largest IT services firm.
- companyInfosys
Major Indian IT services provider.
- companyHCL Technologies
Indian IT services and consulting firm.
- companyTech Mahindra
IT services and solutions provider.
- companyWipro
Indian multinational IT services corporation.
