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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