3i Infotech Q3FY26 Revenue ₹172.1 Cr, PAT ₹2.1 Cr; Arbitration Initiated
3i Infotech reported Q3 FY26 consolidated revenue of ₹172.1 crore and PAT of ₹2.1 crore. The company raised ₹64.1 crore via rights issue for growth initiatives. It has filed a complaint regarding alleged financial fraud of ₹128 crore related to eMudhra Limited. Arbitration proceedings have been initiated for the RailTel WiFi Monetization Project, with the first hearing on February 20, 2026.
The company reported financial results, raised capital for growth, and initiated significant legal actions (litigation and arbitration). These events, particularly the fraud allegations and arbitration, could have a material impact on the company's financial standing and future operations.
The results show a mixed performance with revenue moderation in BPS impacting PAT. While there are positive developments like rights issue utilization and core segment strength, the ongoing litigation and arbitration proceedings introduce significant uncertainty and risk, balancing out the positive aspects.
3i Infotech Limited announced its consolidated financial results for the third quarter of FY26, ended December 31, 2025. The company reported consolidated operating revenue of ₹172.1 crore. EBITDA for the quarter was ₹11.4 crore, and Profit After Tax (PAT) before exceptional items was ₹5.5 crore. Due to recent changes in labor law guidelines, an exceptional item of ₹3.4 crore was recorded, resulting in a PAT of ₹2.1 crore.
The performance reflects a moderation in revenue from select Business Process Services (BPS) engagements, primarily due to recent regulatory changes by the Reserve Bank of India impacting certain BPS-led activities. The United States and India remain key markets, contributing approximately 50% and 40% of the total revenue, respectively. The Application–Automation–Analytics (AAA) vertical was the primary growth driver with ₹121.2 crore in revenue, supported by Infrastructure Services (IS) at ₹34.8 crore and Digital Business Process Services (Digital BPS) at ₹15.5 crore.
During the quarter, the company raised ₹64.1 crore from a rights issue, which is being invested in competency building, growth engine creation, participation in large bids, and the creation of Centers of Excellence (CoEs). The company also completed its investigation into a legacy matter related to the disinvestment of its subsidiary 3i Consumer Services Limited (now eMudhra Limited) and the redemption of preference shares issued by eMudhra Limited. Following an internal investigation, forensic audit, and legal opinions, a complaint has been filed with the Economic Offence wing against eMudhra Limited and certain individuals for alleged corporate financial fraud, involving ₹128 crore plus interest and penalty. This matter is under investigation and sub-judice.
In a separate development, 3i Infotech has initiated arbitration proceedings concerning the RailTel WiFi Monetization Project. Three arbitrators have been appointed, and the first hearing is scheduled for February 20, 2026. The company has assured stakeholders that they will be updated as these matters progress.
Mr. Raj Ahuja, Group CEO, 3i Infotech Limited, commented that Q3 was a quarter of adjustment due to regulatory changes affecting BPS engagements. He highlighted the steady performance of core digital and technology services, strong client relationships, and momentum in AAA and Infrastructure Services. He also noted the thoughtful deployment of rights issue funds for strengthening capabilities and positioning for strategic opportunities. The company aims to remain disciplined, grow responsibly, adapt to change, and create long-term value for stakeholders.
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