As compared with Q3 FY22, the company's net profit and revenue grew by 15.3% and 14.2%, respectively.

In constant currency, revenue declined 2.5% QoQ and grew 5.7% YoY.

The company said that it has recorded new TCV wins of $401 million in Q3 FY23 in direct international business, of which 74% in new generation services. Five large deal were bagged in Q3 FY23, which is highest ever on record to date; FYTD TCV wins is over $1 billion.

Nitin Rakesh, chief executive officer and managing director, Mphasis, said: “This quarter reflects the duality in our current business environment. On one hand, our core business continues to perform well. On the other hand, there are cyclical headwinds due to market hypersensitivity in our mortgage business, with interest rate movements.

We continue to have a strong market share and wallet share gains in our chosen segments, as reflected in our TCV wins and pipeline. We are happy with the optimization efforts we undertook in 2022, including accelerated fresher adoption and enhancing operational efficiencies, enabling us to invest and still hold the EBIT margins.”

Mphasis is an information technology (IT) solutions provider specializing in cloud and cognitive services.

Powered by Capital Market - Live News

Net profit of Mphasis rose 15.26% to Rs 412.27 crore in the quarter ended December 2022 as against Rs 357.68 crore during the previous quarter ended December 2021. Sales rose 12.24% to Rs 3506.21 crore in the quarter ended December 2022 as against Rs 3123.72 crore during the previous quarter ended December 2021.

Powered by Capital Market - Live News

Mphasis Ltd is up for a fifth straight session in a row. The stock is quoting at Rs 2057, up 0.49% on the day as on 12:44 IST on the NSE. The benchmark NIFTY is down around 0.2% on the day, quoting at 18128.75. The Sensex is at 60888.22, down 0.26%. Mphasis Ltd has added around 5.45% in last one month.

Meanwhile, Nifty FMCG index of which Mphasis Ltd is a constituent, has added around 3.75% in last one month and is currently quoting at 29617.8, up 0.23% on the day. The volume in the stock stood at 1.36 lakh shares today, compared to the daily average of 3.87 lakh shares in last one month.

The benchmark January futures contract for the stock is quoting at Rs 2058.5, up 0.45% on the day. Mphasis Ltd is down 32.58% in last one year as compared to a 2.09% gain in NIFTY and a 19.03% gain in the Nifty FMCG index.

The PE of the stock is 29.77 based on TTM earnings ending September 22.

Powered by Capital Market - Live News

Mphasis has allotted 8076 equity shares under ESOP on 16 January 2023.

Powered by Capital Market - Live News