Mphasis Ltd Share Price – NSE  /  BSE

IT - Software, Small Cap

Mphasis has allotted 21,566 equity shares under ESOP and 34,355 under RSU Plan on 23 November 2023.

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Revenue from operations increased marginally to Rs 3,276.50 crore in Q2 FY24 over Q1 FY24.

As compared with Q2 FY23, the company's net profit and revenue dropped 6.34% and 6.91%, respectively.

In constant currency, revenue remained flat QoQ and 10.1% YoY.

New TCV wins of $255 million in Q2 FY24 in Direct; of which 70% in new gen services.

Nitin Rakesh, chief executive officer, and managing director, Mphasis, said, “We are seeing signs of bottoming out, thanks to stability in mortgage and visibility to growth given the sustained pipeline expansion and contract closures that are starting to gain momentum. We are focused on establishing a path of AI acceleration with our full-fledged Mphasis.ai business unit, with key GTM along with solutioning AI partnerships to makethe most of this opportunity.”

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

The scrip declined 1.18% to Rs 2,231.50 on the BSE.

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Net profit of Mphasis declined 6.34% to Rs 391.95 crore in the quarter ended September 2023 as against Rs 418.46 crore during the previous quarter ended September 2022. Sales declined 6.91% to Rs 3276.50 crore in the quarter ended September 2023 as against Rs 3519.82 crore during the previous quarter ended September 2022.

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Mphasis Ltd is down for a fifth straight session today. The stock is quoting at Rs 2310.9, down 2.06% on the day as on 13:19 IST on the NSE. The benchmark NIFTY is up around 0.55% on the day, quoting at 19840.4. The Sensex is at 66541.51, up 0.57%.Mphasis Ltd has lost around 6.97% in last one month.Meanwhile, Nifty FMCG index of which Mphasis Ltd is a constituent, has eased around 3.78% in last one month and is currently quoting at 31750.35, up 0.4% on the day. The volume in the stock stood at 4.84 lakh shares today, compared to the daily average of 3.75 lakh shares in last one month.

The benchmark October futures contract for the stock is quoting at Rs 2319.2, down 1.34% on the day. Mphasis Ltd jumped 9.26% in last one year as compared to a 13.46% rally in NIFTY and a 12.58% spurt in the Nifty FMCG index.

The PE of the stock is 30.56 based on TTM earnings ending June 23.

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