Mphasis at a new high

Mphasis is currently the top gainer on the BSE, going on to hit a new high at Rs.1173.30, not too far from its 20% UC of the day at Rs.1175.70.

Market is happy with the company’s June quarter earnings wherein consolidated net profit rose 4% (YoY) at Rs.275 crore though on a sequential basis, it was down 22%. This was on a 11% rise in revenue from operations at Rs.2288 crore.

The market is pretty happy with its statement that it $ 259 million worth of total contract value (TCV) wins in direct international business, including a $105-million deal in Q1.

In constant currency terms, its revenue fell 5% (QoQ) to $305 million.

EBIT margin, which is what the market pays close attention to, fell from 16.3% to 15.7%.