Shares of Mphasis Ltd. fell the most in 13 weeks since Oct. 21 after the company's third-quarter profit missed analysts' estimates.
The company's third-quarter profit faell 1.48% to Rs 412.3 crore, missing analyst estimates of Rs 431.5 crore. Revenue eased 0.39% to Rs 3,506.2 as compared to the previous quarter of the ongoing financial year.
Mphasis Q3 FY23 (Consolidated, QoQ)
Revenues down 0.39% at Rs 3,506.2 crore (Bloomberg estimate at Rs 3,624.3 crore)
Ebitda down 0.05% at Rs 617.5 crore (Bloomberg estimate at Rs 641 crore)
Ebitda margin at 17.61% versus 17.55% (Bloomberg estimate at 17.96%)
Net profit down 1.48% at Rs 412.3 crore (Bloomberg estimate at Rs 431.5 crore)
Shares of the company fell 1.56% to Rs 2,035 apiece as of 11:30 a.m., while the benchmark Nifty 50 gained 0.05%. The total traded volume so far stood at 5.6 times its 30-day average.
Out of the 36 analysts tracking the company, 24 maintain a 'buy' rating, nine recommends a 'hold' and three suggest to 'sell' the stock, according to Bloomberg data. The 12-month consensus price target implies an upside of 16.5%.
Also Read: Reliance Industries, JSW Steel, HDFC Life, LTIMindtree Q3 Results Today — Earning Estimates
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