
HSBC maintains its Buy rating on Infosys with a target price of ₹2,120, stating that Q3 results were decent in terms of both revenue growth and margin performance. The management’s outlook was positive, particularly highlighting green shoots in Europe’s banking sector and the US retail business.
However, HSBC flagged uncertainty around the sustainability of pass-through revenues in FY26. The brokerage remains optimistic about Infosys’ ability to navigate market dynamics while maintaining growth.
Infosys Q3FY25 Performance:
- Net Profit: ₹6,806 crore (+4.6% QoQ)
- Revenue: ₹41,764 crore (+2% QoQ)
- EBIT: ₹8,912 crore (+3% QoQ), Margin: 21.3% vs. 21.1% QoQ
- FY25 revenue guidance raised to 4.5–5% from 3.75–4.5%.