Mphasis Ltd. reported a 4.6% sequential rise in net profit for the quarter ending September, with profits reaching ₹423 crore, up from ₹404 crore in the previous quarter. Revenue saw a 3.3% increase, totaling ₹3,536 crore compared to ₹3,422 crore in Q2 FY25, as per an exchange filing.
Operating profit, or EBIT, rose 6% to ₹544 crore from ₹514 crore in the previous quarter. The EBIT margin improved to 15.4%, slightly above the target range of 14.6% to 16%. The company secured a total contract value of $207 million, including three large deals.
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Mphasis highlighted that the TCV wins were broad-based across various verticals, client tiers, and strategic customers. Additionally, the pace of converting these wins to revenue has accelerated. The company’s board approved up to 30 million euros in further investment for its wholly-owned subsidiary, Mphasis Europe BV, by March 2025.
The additional investment in Mphasis Europe BV will support the repayment of borrowings, helping the subsidiary strengthen its financial footing, the company stated. This move aligns with Mphasis’ broader strategy to enhance its global presence and financial health.
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Mphasis, headquartered in Bengaluru, is a multinational IT service and consulting firm. The company offers services in infrastructure technology, applications outsourcing, application development, integration, and management services. It continues to expand its capabilities across key sectors to drive growth and innovation.
Last month, Mphasis appointed industry veteran Ajay Arya as head of its mergers and acquisitions department. Based in New York, Arya will oversee strategy, evaluation, deal sourcing, negotiations, and post-merger integration. Mphasis shares closed slightly lower at ₹2,920, having risen 27% in the past 12 months.
