India's IT giants report slower June growth, Infosys lowers guidance
India's biggest IT companies just posted slower growth for the June quarter of fiscal 2026. Delays in project rollouts and global tensions are partly to blame.
Infosys missed its revenue and profit targets, even lowering the upper end of its revenue guidance for the year from 3.5% to 3%.
AI adoption rises, IT jobs decline
Tech Mahindra led with a modest 2.2% revenue jump, while most others barely grew.
On the bright side, AI is picking up: Infosys now gets 8.2% of its revenue from AI (up from under 5% last year), and TCS is at 8.5%.
Profits were mixed: Tech Mahindra boosted margins to 14.4%, but TCS and Wipro slipped back.
Stock prices reflected this divide: Tech Mahindra jumped over 14%, HCLTech edged up, but most others fell by as much as 12%.
Meanwhile, IT sector jobs continued their downward trend for a second straight quarter as companies adjust to new market realities.