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As of October 13, 2026, the latest reported quarters are not the same: TCS has published Q2 FY27 results for the quarter ended September 30, while Infosys’s latest published results are Q1 FY27, for the quarter ended June 30. Infosys lists October 23, 2026 as the tentative date for its September-quarter results. Until those results are published, the available figures do not support a same-quarter ranking.
What the latest results show—and why they are not a direct head-to-head
The companies report in different currencies, and their latest results cover different quarters. TCS reported in US dollars; Infosys reported in Indian rupees. Revenue figures alone therefore cannot establish which company is larger or growing faster without aligning periods and currency. The figures below are company-reported.
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| Company and period | Revenue | Growth and profitability | Cash flow and EPS |
|---|---|---|---|
| TCS, Q2 FY27, quarter ended September 30, 2026 | US$7,642 million | Revenue rose 2.4% year over year and 0.2% sequentially in US dollars; constant-currency revenue growth was 0.5% sequentially. Operating margin was 24.0%; net profit was US$1,450 million and net margin was 19.0%. | Net cash from operations was US$1.48 billion, equal to 102.2% of net income. EPS: not stated in the cited Q2 release. |
| Infosys, Q1 FY27, quarter ended June 30, 2026 | ₹48,211 crore, compared with ₹46,402 crore in the previous quarter and ₹42,279 crore in the year-ago quarter | Profit attributable to company owners was ₹7,769 crore. The cited Q1 figures here do not state operating margin or net margin. | Basic EPS was ₹19.19 and diluted EPS was ₹19.17; these are quarterly figures, not annualized. The cited Q1 figures here do not state operating cash flow. |
TCS figures are from its Q2 FY27 results release dated October 8, 2026. Infosys figures are from its Q1 FY27 audited results, published July 23, 2026.
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1Repair Windows errors before they cause bigger problems2Scan for outdated or missing drivers - takes under a minute3Clear out junk files and repair common Windows errorsHow to compare quarterly results fairly
Once both companies have reported the same quarter, use a consistent basis rather than treating a single headline number as a verdict. Start with consolidated results for both companies and confirm that the fiscal quarter and accounting scope match.
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- Align periods. Compare the same quarter and fiscal year. Keep year-over-year growth separate from sequential growth: each answers a different question, and a single quarter does not establish a durable trend.
- Align currency. TCS reports the cited revenue in US dollars and Infosys in rupees. Either compare each company’s growth rates in its reporting currency or convert both companies’ amounts using a stated exchange rate and date. Do not rank the amounts as though they were already in the same currency.
- Compare revenue growth and scale. Read revenue alongside both year-over-year and sequential growth. For Infosys, the Q1 FY27 revenue rose from both the previous quarter and the year-ago quarter; TCS’s cited release provides both sequential and year-over-year US-dollar growth, plus sequential constant-currency growth.
- Compare operating performance. Operating margin helps show how much revenue remains after operating costs. Compare the same reported margin measure and period; do not substitute net margin, which reflects additional items, for operating margin.
- Check profit and EPS. Compare net profit using the same definition of attributable profit, then consider profit margin and EPS. Confirm whether EPS is basic or diluted and whether it is quarterly or annualized.
- Assess cash generation. Operating cash flow and its relationship to net income can add context to reported profit. TCS disclosed operating cash conversion for Q2 FY27; the Infosys Q1 figures cited above do not provide a comparable cash-flow number.
When a company disclosure does not provide a comparable measure, mark it as unavailable for that comparison rather than inferring it from another metric.
How the latest dividends compare
A per-share dividend is not enough to establish which company pays more in a meaningful investment sense. Identify the distribution type, fiscal period, record date and payment date; then compare the amounts on a matching basis. A larger per-share amount does not necessarily mean a higher yield, because yield also depends on share price and its date.
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| Company and dividend | Amount and covered period | Record date | Payment date and status |
|---|---|---|---|
| TCS Q2 FY27 dividend | ₹12 per share; announced with Q2 FY27 results | October 14, 2026 | October 30, 2026; payment date stated by TCS |
| Infosys FY26 final dividend | ₹25 per share for FY26 | Not stated in the cited Q1 FY27 filing | Approved at the June 23, 2026 AGM and paid June 25, 2026 |
TCS’s dates and amount are in its Q2 FY27 release; its dividend history also lists a ₹12-per-share Q1 FY27 interim dividend, with a July 15, 2026 record date and July 31, 2026 payment date, and a ₹31-per-share FY26 Q4 final dividend, paid June 12, 2026. These are separate distributions with different periods and types; do not add them together without specifying the fiscal-year treatment.
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When Infosys is expected to report Q2 FY27
Infosys’s investor FAQ listed October 23, 2026 as the tentative release date for results for the quarter ended September 30, 2026. As of October 13, that date was upcoming and tentative, not a published result. Check the FAQ for any schedule update before treating the date as final.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What the figures can—and cannot—tell you
The current disclosures support a snapshot of reported operating performance and declared dividends, not a prediction of future results, future distributions or investment returns. The official materials cited here do not establish a comparable forward dividend yield. If calculating a historical or current yield separately, state the share price and date used, and identify which dividends are included; do not present that calculation as a guaranteed return.
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