India-based IT services giant Infosys (NYSE: INFY) reported revenue of 409.86 billion rupees (US$4.88 billion), up 3.3% in constant currency and year on year, in its fiscal second quarter ended Sept. 30. Sequential growth stood at 3.1%.

On a reported basis, the IT services firm reported year-on-year revenue growth of 5.1% as measured in Indian rupees.

Gross profit improved by 4.6% to INR 125.12 billion (USD 1.48 billion).

Salil Parekh, CEO and managing director, said in a press release, “We had strong growth of 3.1% quarter on quarter in constant current in Q2. The growth was broad-based with good momentum in financial services.”

By business segment, manufacturing saw the biggest year-on-year growth in constant currency at 12.3%. This was followed by energy, utilities, resources and services (10.9%). Declines were reported in the retail (-9.6%) and “others” segment (-1.2%).

By geography, North American revenue made up 57.4% of the company’s business in Q2. Revenue fell by 2.7% in constant currency.

Revenue in Europe grew by 15.5%, while revenue in India increased by 16.0% and 3.8% in the rest of the world.

Overall, the number of employees in Q2 2025 totalled 317,788, down from 328,764 in Q2 2024.

First-half revenue grew at 2.9% year over year in constant currency. Operating margin for the first half was at 21.1%.

CFO Jayesh Sanghrajka said, “We continue to focus on accelerating revenue growth with a sharp focus on margin performance. Operating margins for the quarter was at 21.1%, driven by continued benefits from value-based pricing and utilization despite higher employee payouts. Our focus on cash generation resulted in another quarter of over 100% free cash flow conversion to net profit.”

Share price and market cap

On Thursday, Infosys shares closed in the US at $22.66, down 1.05% on the day and 3.49% below its 52-week high of 23.48, set on 28 August 2024. The company has a market cap of USD 97.01 billion.