The IT company reported a 23 per cent increase in consolidated net profit at Rs 339.6 crore in June 2021 quarter. The company’s net profit stood at Rs 275.1 crore in the year-ago period, Mphasis said in a regulatory filing.
Share of Mphasis gained over 12 per cent to Rs 2692.35 on Friday, but gave up some gains to trade at Rs 2658 at 9.50 am. BSE Sensex was trading 92 points or 0.17 per cent lower at 52,745.62 at the same time. It settled at Rs 2396.85 on Thursday.
Revenue from operations grew 18 per cent to Rs 2,690.8 crore in the reported quarter from Rs 2,288.2 crore in the year-ago period, it added.
In constant currency, growth was 16.3 per cent on year-on-year (YoY) basis, and 5.9 per cent on quarter-on-quarter basis. Its earnings per share (EPS) grew 23.1 per cent YoY to Rs 18.16.
The company’s new TCV wins stood at $505 million in Q1 FY22 in direct business, of which 85 per cent was in new generation services.
Brokerage firm Yes Securities has given ‘ADD’ rating to the counter after decent numbers in the recently concluded quarter.
“Strong result with revenue above estimate and EBIT margin along the expectation. Margin pressure like to increase with higher attrition going ahead,” it said. “Deal booking remains strong and offers strong revenue growth visibility.”
