IT Stocks Decline: Infosys, Wipro Shares Fall After Q2 Results, LTIMindtree Bucks Trend

Shares of Indian information technology companies fell during early trade on Friday after a host of large players reported their second-quarter earnings. The Nifty IT fell over 1% with all but one of the nine constituents in red.

Wipro Ltd. tanked 4.6% and Infosys Ltd. slipped 1.6% after they reported their financials on Thursday.

LTIMindtree Ltd. was the only stock in green, rising 2.3%.

Infosys' quarter-on-quarter revenue growth in constant currency stood at 2.2%, lower than the 2.6% in the first quarter. Similarly, the large deal total contract value came in at $3.1 billion in the September quarter, down from $3.8 billion in the preceding June quarter. The net new deals accounted for 67% of the total TCV.

Net profit rose 6% quarter-on-quarter to Rs 7,364 crore, beating analysts' expectations. Revenue of the Bengaluru-based largest IT services firm rose 5.2% over the previous quarter to Rs 44,490 crore.

Wipro logged a consolidated net profit of Rs 3,246.2 crore, as against Rs 3,330.4 crore in the preceding quarter. This was in line with the estimate of Rs 3,279 crore, as projected by the analysts tracked by Bloomberg.

The company expects revenue from its IT services business to be in the range of $2,591 million to $2,644 million for the third quarter of FY26, reflecting a sequential growth guidance of 0.5% to 1.5% in constant-currency terms.

This comes after a sequential uptick of 0.3% in constant-currency revenue during the second quarter.