IT giants like Tata Consultancy Services Ltd., Wipro Ltd., HCL Technologies Ltd. and Infosys Ltd. are the most watched out for companies during the India Inc.'s earnings season.
The companies reigned over google trends as they reported their Q4FY26 results. The March quarter earnings underscored a clear trend: while demand remains resilient in pockets, global headwinds such as tariffs and the ongoing Iran conflict continue to weigh on client spending and decision-making cycles.
ALSO READ: Infosys Q4 Results: Profit Surges 28%, FY27 Growth Seen At 1.5%-3.55%
TCS Q4 Profit Soared 29%; Revenue Beat Estimates
TCS reported a 29% sequential rise in its net profit for the fourth quarter of FY26. The IT giant registered its consolidated bottom-line at Rs 13,720 crore for quarter ended March 31, 2026. In the previous quarter its net profit stood at Rs 10,657 crore.
Revenue rose 5.5% to Rs 70,698 crore from Rs 67,087 crore, beating analysts' estimate of Rs 67,087 crore.
Earnings before interest and taxes rose 6% to Rs 17,870 crore, up 6% from Rs 16,889 crore in Q3, FY26. Whereas EBIT margin stood at 25.3%, compared to 25.2% in the third quarter.
Commenting on the performance, K Krithivasan, Chief Executive Officer and Managing Director, said “We are pleased to report the third consecutive quarter of sequential growth, supported by three mega deals and a $12 billion TCV, underscoring the strength of our five pillar strategy and our AI led positioning across services."
Wipro's Big Buyback; Cautious CC Outlook
Wipro announced a buyback worth Rs 15,000 crore, which it expects to be completed by the first quarter. The board approved the buy back at a Rs 250 per share price. Total payout ratio for last 3 years stands at 88%.
While Profit and revenue rose, IT revenue saw a 1.2% decline quarter-on-quarter, accordingly, the company set its Q1FY27 growth outlook between -2% to 0% in constant currency.
Srini Pallia Chief Executive Officer (CEO) and Managing Director of the firm commented on the performance in a post earnings conference call and said Wipro continues to focus on AI first edge.
HCLTech's AI Revenue, Possible Headwinds
India's third-largest IT services major saw a 10% rise in its net profit for the fourth quarter. HCLTech provided a revenue growth growth guidance between 1-4% in constant currency terms for FY27.
Revenue in CC terms fell 3.3% sequentially.The advanced artificial intelligence (AI) revenue came in at $620 million for the fourth quarter of FY26. HCLTech's revenue growth guidance for the services segment is pegged 1.5% between 4.5% in CC terms for FY27.
ALSO READ: Infosys Vs TCS Vs Wipro: Who Is Giving Salary Hikes And How Much?
''The business environment remains highly fluid, making it difficult to form a definitive view for the next 12 months,'' said the management in the press conference. ''Two client specific challenges faced in Americas willl likely create a headwind of 50 basis points to the company's growth in FY27,'' they added.
Commenting on the AI impact over business, HCLTech's management said that the demand for traditional services has not reduced, however, there is AI deflation. Despite that, HCLTech sees an increase in revenue from the top clients, according to the management.
Infosys' Discretion On AI Spend
IT giant Infosys posted a 28% surge in profit at Rs 8,501 crore in the fourth quarter of the previous fiscal. This is in comparison to profit of Rs 6,654 crore in the same quarter of the previous fiscal.
The country's second largest IT company said its guidance for fiscal 2027 revenue growth was at 1.5% to 3.5% in constant currency terms, missing brokerage estimate of 2%-4% for the year. The guidance for operating margin for the fiscal will be at 20% to 22%.
Infosys, while not as vocal in deal disclosures, continues to invest in AI capabilities as part of its broader digital transformation offerings. Infosys management also said that AI is seen growing faster in financial services.
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