Mphasis has an impactful rise

Mid-cap IT stock, Mphasis is the top gainer on the BSE currently, on the back of its robust performance for Q2FY16. Beating all expectations, the company posted a 18% (QoQ) rise in consolidated net profit at Rs.185 crore on a 4% increase in total income at Rs.1557 crore. EBITDA showed a 11% jump at Rs.235 crore while margins showed a healthy rise from 14.1% to 15.1%. Net margin showed a much better, 140 bps rise at 11.9%.

Direct international revenue increased by 8% and it announced robust deal wins in direct international business with US$ 90 million TCV.

The market is thrilled to bits with these numbers and the stock hit a new 52-week high today at Rs.475. Currently, the stock is up over 10% at Rs.461. Volumes have jumped by a jaw-dropping volume of around 15 times.