Infosys, the second-largest exporter of IT services in India, reported a 12.2% rise in net profit compared to the previous year for the first quarter of fiscal year 27. Furthermore, the company announced that Ashish Kumar Dash will take over as CEO from Salil Parekh in April of next year.
In the first quarter of fiscal year 27, Infosys recorded a net profit of 7,769 crore rupees, exceeding 6,921 crore rupees in the same period last year. Quarterly revenue grew by 14% year-on-year, reaching 48,211 crore rupees.
Despite strong quarterly results, the company slightly lowered its revenue growth forecast for fiscal year 27 to the range of 1.5–3%, down from the initial forecast of 1.5–3.5%. Infosys CEO Salil Parekh attributed this adjustment to ongoing uncertainty in the macroeconomic environment. Additional difficulties arose due to a specific client and business activity volume.
Nevertheless, Infosys remains confident in its future, highlighting large contracts worth $3.6 billion, 61% of which are new. The company also noted the active growth of its artificial intelligence (AI) services. Salil Parekh stated that 'the AI momentum is now rapidly converting into revenue, demonstrating how Infosys' differentiated value proposition in enterprise AI is translating into stable market share growth. Major deal wins, underpinned by Infosys Topaz, strengthen client confidence in our ability to be the strategic partner of choice for AI transformation that delivers tangible business value.'
The company reported that AI services now account for 8% of total revenue, up from 5.5% in the third quarter of fiscal year 26. Parekh noted that AI services are showing double-digit growth, and the portfolio of such deals remains strong, although he added that fluctuations may be observed in AI revenue growth. For the quarter, Infosys demonstrated healthy growth across all verticals and regions. Moreover, the financial services segment, being the largest source of income, is growing faster than the overall company growth.
As of the end of the first quarter, Infosys had a total workforce of 328,062 employees, which is 532 fewer than in the fourth quarter of fiscal year 26. However, year-on-year, the staff increased by 4,274 people. The company announced salary increases scheduled for October and January.
The incoming CEO, Ashish Kumar Dash, is an Infosys veteran with over 30 years of experience and is currently based in Los Angeles. He holds the position of Executive Vice President and Global Head of Utilities, Energy, and Corporate Sustainability Services. Salil Parekh was appointed CEO in January 2018 and is credited with doubling the company's revenue from $10 billion to $20 billion.
The fintech company Paytm demonstrated a 79% growth in net profit in the first quarter of fiscal year 2027. Meanwhile, the company's revenue increased by 28%, which resulted from comprehensive growth across all business segments.
The company reported that net profit for Q1 FY27 amounted to 220 crore rupees, compared to 123 crore rupees the previous year. Revenue reached 2,448 crore rupees, whereas the same period last year showed 1,918 crore rupees.
Paytm attributed the first quarter results to the expansion of payment services for merchants, which contributed to an increase in market share and Gross Merchandise Value (GMV) growth. Furthermore, the company noted the positive impact of continued growth in offline business and favorable factors in the online segment.
Credit distribution to merchants continues to grow due to the expansion of the customer base. Moreover, Artificial Intelligence (AI)-based capabilities helped enhance merchant engagement, customer retention, provide risk analytics to partners, and improve debt collection efficiency. Product innovations and optimization of consumer acquisition using AI ensured market share gains in the consumer payments segment for five consecutive quarters.
Consumer monetization showed significant growth, supported by the proliferation of buy now, pay later services, personal loans, and investment products. Regarding AI, Paytm stated that it developed specialized models and agents by fine-tuning open-source models to achieve higher performance and efficiency.
In the company's view, the large Total Addressable Market (TAM) and the AI-driven operating leverage position Paytm for long-term sustainable profit growth.
The payment services business, which is Paytm's primary source of income, generated 56% of total revenue and increased by 32%, amounting to 1,384 crore rupees. Income from financial services distribution reached 814 crore rupees, while income from marketing services was 239 crore rupees.
The consolidated profit of Jio Financial Services Limited after tax increased by 156% compared to the previous year, reaching 830 crore rupees for the quarter ending June 30, 2026. This growth resulted from an increase in revenues and operating profit across the company's financial services portfolio.
Total consolidated revenue, excluding dividend payouts, grew by 141% to 1,496 crore rupees in the first quarter of 2026-27. Operating profit before provisions, also excluding dividends, increased by 38% to 505 crore rupees. Profit before tax, excluding dividends, rose by 18% to 461 crore rupees after adjusting last year's figure for a one-time exceptional income of 29 crore rupees. Meanwhile, profit before tax, including dividends, increased by 131% to 970 crore rupees.
Gross assets under management at Jio Credit, the group's non-banking financial company, expanded 2.6 times compared to last year, reaching 30,667 crore rupees. Gross disbursements increased 2.7 times during the reporting quarter, amounting to 11,252 crore rupees. The portfolio consisted of mortgage loans, which accounted for 45.4%, corporate and SME loans at 44.2%, and securities-backed retail loans at 10.4%. Jio Credit's net interest income grew by 118% to 257 crore rupees, and profit after tax increased by 113% to 96 crore rupees. The company's total equity as of June 30 was 1.37 trillion rupees. The company received a second tranche of 5,934 crore rupees from its promoter group, leading to a cumulative capital infusion of 9,890 crore rupees.
The company reported a successful operational turnaround in the Jio Payments Bank and Jio Payment Solutions divisions during the reporting period. Jio Payments Bank's total revenue increased 7.7 times compared to last year, reaching 83 crore rupees, while customer deposits grew by 72%, totaling 617 crore rupees. The customer base with current and savings accounts increased by 51% to 3.9 million accounts. The bank's active network of business correspondents expanded to 527,037 touchpoints, up from 50,192 the previous year and 378,568 in the previous quarter. Jio Payment Solutions' total payment volume grew 2.5 times compared to last year, reaching 19,208 crore rupees. Gross income from fees and charges increased 6.4 times to 176 crore rupees, and net income from fees and charges grew 3.4 times to 24 crore rupees. The net processing margin was 12 basis points.
Assets under management in the joint venture between Jio Financial Services and BlackRock increased sequentially by 21%, reaching 18,412 crore rupees. Liquid fund assets exceeded 10,000 crore rupees. The company noted that 44% of investors have active systematic investment plans, and 36% of retail assets originate from outside the country's top 30 cities. Investors new to mutual funds accounted for 18.5% of the investor base. The joint venture received final approval from the International Financial Services Authority to operate as a retail fund manager in GIFT City. In the insurance sector, Jio Insurance Broking provided premiums worth 238 crore rupees, 1.6 times more than the previous year, and fee and commission income grew by 131% to 61 crore rupees. Allianz Jio Reinsurance underwrote gross premiums of 266 crore rupees in its first full quarter of operation. Jio Allianz General Insurance was established as an equal joint venture, and statutory and regulatory approvals are currently underway. The JioFinance mobile application had 25 million unique users and registered an average of about 34,000 product purchases per day in June. The rewards program issued over 204 million JioPoints to 5.7 million registered customers.
Billionbrains Garage Ventures Ltd, the parent company of the digital investment platform Groww, reported on Wednesday a significant increase in consolidated profit after tax (PAT) of 94.3% compared to the previous year. For the quarter ending June 30, PAT reached 735.04 crore rupees.
The company, headquartered in Bangalore, earned 378.35 crore rupees in PAT during the same period last year. According to the report filed with the stock exchange, operating revenue grew by 66%, amounting to 1,501.42 crore rupees in the fourth quarter of fiscal year 27, compared to 904.40 crore rupees the previous year.
However, looking at sequential dynamics, operating revenue remained almost unchanged at 1,501.42 crore rupees, whereas in the quarter from January to March of fiscal year 26 it was 1,505.37 crore rupees. Nevertheless, profit after tax increased compared to the previous quarter, when it stood at 686.36 crore rupees.
The company's total expenses rose to 555.68 crore rupees from 444.67 crore rupees a year ago. In the afternoon trading session, the company's shares traded on BSE 3.7% higher, reaching the mark of 211.4 rupees.
