The share price of Mphasis Ltd., was trading at Rs.2526.05, up by 5.39%, hitting a 52 week high of Rs.2692.35 in today’s trading session.
The stock price has increased by 157.83% in last one year, while the benchmark index S&P BSE Sensex has increased by 38.90%.
The stock rallied after the company reported a healthy set of June quarter (Q1FY22) numbers.
Its revenue increased 6.8% quarter on quarter (QoQ) and 16.1% year on year (YoY) to $362.9, primarily due to a 10.8% QoQ increase in Direct revenues (91 per cent of revenues). Constant Currency (CC) growth was 5.9 percent quarter on quarter and 16.3 percent year on year.
The EBIT margin fell by 20 basis points (bps) year on year to 15.9 percent. Profit after tax (PAT) increased 7.2% QoQ to Rs 339.7 crore, owing primarily to higher other income.
During the quarter, Mphasis reported a total contract value (TCV) of $505 million in Direct business, the highest in the company’s history. 85 percent of the TCV were in new-gen services. This includes a single landmark deal win of $250 million.
“We are committed to maintaining our performance while keeping our clients’ transformation needs at the centre of our strategy and execution,” said Mphasis Chief Executive Officer and Executive Director Nitin Rakesh.
The company’s business model has been driving growth and differentiation for it over the years, and its financial performance for the quarter is a reflection of that, he added.
Mphasis, founded in 1992, serves prestigious clients all over the world, including many of the world’s largest banks, mortgage lenders, and insurance companies. Mphasis is a global service provider that provides technology-based solutions in a variety of industries.
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