Mphasis reports 8% jump in Q2 net profit at Rs 423 crore
The Bengaluru-based firm had reported a net profit of Rs 404.5 crore in the June quarter of the current financial year, the filing showed.
Mphasis on October 17 reported an 8 percent jump in net profit at Rs 423.3 crore in the second quarter of FY25, compared to Rs 391.95 crore in the year-ago period, the IT firm said in an exchange filing.
The Bengaluru-based firm had reported a net profit of Rs 404.5 crore in the June quarter of the current financial year, the filing showed.
The revenue from operations of the company recorded a 7.92 percent drop at Rs 3,536.14 crore in the reported quarter over Rs 3,276.5 crore in the same period of the previous financial year. The revenue stood at Rs 3,422.46 crore in the April to June period of FY25.
The firm posted new TCV wins worth $207 million in Q2 FY25, of which 88 percent were in new-gen services, the company statement said. The operating margin came in at 15.4 percent, while its EPS rose 4.6 percent sequentially and 7.7 percent on-year to Rs 22.4 crore in the second quarter of FY25.
“Despite many ongoing challenges, the macro environment continues to trend in the right direction. We are witnessing increased AI adoption across clients to address enterprise challenges with higher efficiency and accuracy, beyond cost advantage. Savings led transformation thesis is core to all our deal archetypes and solutions, thus significantly enhancing service delivery and savings for clients”, said Nitin Rakesh, chief executive
officer and managing director, Mphasis.
The company also announced a 30 million euro worth of equity infusion into its wholly owned subsidiary Mphasis Europe BV. The investment will be completed by the end of FY25, the company said. “This investment will enable Mphasis Europe BV inter alia in repayment of borrowings,” according to the statement.
On October 16, shares of the IT firm closed 0.33 percent lower at Rs 2,920 on NSE.
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