Top Q2 Earnings: Infosys, Adani Power, Dr Reddy’s and More

The latest batch of Q2 FY27 results available before Monday’s market open includes reports released on Thursday, October 22, and Friday, October 23. The numbers show a mixed earnings picture: several companies delivered strong revenue growth, while margins, guidance or one-off items shaped the quality of profit. This roundup focuses on announced results and reported figures, rather than companies scheduled to report later today.

Infosys

Infosys reported consolidated revenue of ₹49,244 crore for Q2 FY27, up 10.7% year on year, while net profit rose 6.2% to ₹7,823 crore. Operating margin was 21.0%, broadly unchanged from a year earlier. The company reduced its FY27 constant-currency revenue growth guidance to 1%–2%, from 1.5%–3% previously. The guidance cut is a key part of the result: investors will weigh steady quarterly growth against the more cautious full-year outlook.

Adani Power

Adani Power reported consolidated Q2 profit after tax of ₹7,019 crore, up 141.5%, and total reported revenue of ₹19,951 crore, up 39.4%. The company also reported continuing revenue of ₹17,528 crore, up 28.5%, and continuing EBITDA of ₹6,321 crore, up 18.5%. The difference between reported and continuing figures matters: the company said higher prior-period income recognition lifted reported earnings, so the headline profit increase should be read alongside the continuing-business measures.

Adani Energy Solutions

Adani Energy Solutions posted Q2 profit after tax of ₹1,364 crore, up 145% year on year. Total income rose 51% to ₹10,239 crore, while operational revenue increased 51% to ₹7,167 crore. The result reflected growth across transmission, energy solutions and smart metering, with a deferred-tax gain also contributing to the profit increase. Investors will want to distinguish that tax benefit from the underlying expansion in operating activity.

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Dr Reddy’s Laboratories

Dr Reddy’s consolidated net profit fell 36% to ₹913.4 crore, while revenue slipped 1.5% to ₹8,671 crore. EBITDA declined 24.2% to ₹1,783 crore and its margin narrowed to 20.6% from 26.7%. North American revenue dropped 23%, while India revenue grew 17% and emerging-market revenue increased 24%. The regional split shows that growth in India and emerging markets was not enough to offset weakness in North America and lower overall profitability.

Swiggy

Swiggy’s consolidated revenue rose 36.1% to ₹7,571 crore. Its net loss narrowed to ₹922 crore from ₹1,092 crore a year earlier, but widened from ₹792 crore in the June quarter. The year-on-year improvement is therefore only part of the picture: sequential loss growth keeps attention on the cost of scaling food delivery and quick commerce.

Hindustan Petroleum Corporation

HPCL reported Q2 consolidated revenue from operations of about ₹1.39 lakh crore, up nearly 29% year on year. Net profit fell 6% to ₹3,625 crore from ₹3,859 crore. Profit recovered from the June quarter’s loss, but the year-on-year decline despite higher revenue points to the importance of refining and marketing economics in assessing the result.

Colgate-Palmolive (India)

Colgate-Palmolive India’s September-quarter revenue increased 12% to ₹1,705.7 crore, while net profit rose 4% to ₹341.5 crore. EBITDA grew about 2% to ₹474 crore, and the EBITDA margin contracted to 28% from 31%. The gap between sales and profit growth highlights why investors will watch input costs, pricing and the company’s ability to protect margins.

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Sagility

Sagility reported revenue of ₹2,032 crore, up about 23% year on year, and net profit of ₹284 crore, up 13%. EBITDA increased 23% to ₹512 crore, while the reported EBITDA margin remained around 25%. Revenue and operating profit growth were stronger than net profit growth, making cost and below-the-line items useful areas to watch in the next quarter.

Adani Total Gas

Adani Total Gas recorded revenue from operations of ₹1,936 crore, up 34%, and net profit of ₹167 crore, up 3%. EBITDA rose 11% to ₹326 crore, while the EBITDA margin narrowed to 16.8% from 20.3%. The quarter delivered substantial top-line growth, but the slower increase in profit and lower margin show that revenue growth alone did not translate into equivalent earnings growth.

Bharat Petroleum Corporation

BPCL’s consolidated revenue from operations rose about 30% to ₹1.57 lakh crore, while net profit declined 21.5% to ₹4,863 crore. The result again illustrates how a higher revenue base can coexist with weaker profitability when fuel marketing economics are under pressure. Investors will compare refining performance with the margins on fuel sales when assessing the quarter.

What the latest results show

Across this group, the main distinction is between sales growth and earnings quality. Infosys lowered its outlook despite profit growth; Dr Reddy’s and BPCL reported lower profit; and Colgate and Adani Total Gas saw margins weaken. Adani Power and Adani Energy Solutions posted sharp increases in reported profit, but both results include factors that readers should separate from recurring operating performance. Swiggy continued to report a loss even as revenue expanded, while Sagility combined solid sales growth with higher profit.

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These are results announced through October 23, 2026. Companies scheduled to report on October 26 may publish their numbers later today; their results are not included here until disclosed.

Disclaimer: This article is for informational purposes only and is not investment advice. Onetrader is not registered with SEBI as an investment adviser or research analyst.