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Mphasis Q1 Results: Revenue Meets Estimates, Margin Remains Flat

Mphasis' Q1 net profit fell 2% to Rs 396.05 crore, as compared with an estimate of Rs 403 crore.

<div class="paragraphs"><p>(Photo: Burst/Unsplash)</p></div>
(Photo: Burst/Unsplash)

Revenue growth at Mphasis Ltd. faltered in the April-June quarter, even as its bottom line declined amid a wider slowdown in the Indian information technology services industry.

The Bengaluru-based outsourcer's revenue fell 3% to Rs 3,252 crore in the quarter ended June, according to an exchange filing on Thursday. That compares with the Rs 3,362-crore consensus estimate of analysts tracked by Bloomberg.

Mphasis Q1 Results: Key Highlights (Consolidated, QoQ)

  • Operating profit down 3% to Rs 500 crore.

  • EBIT margin flat at 15.3%.

  • Net profit down 2% to Rs 396.05 crore, as compared with an estimate of Rs 403 crore.

On Thursday, shares of Mphasis closed 2% higher before the results were declared, as compared with a gain of 0.74% in the benchmark Nifty 50.

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