Mphasis shares slipped nearly 1 percent in morning trade on July 21 after the IT services company posted lacklustre results for the first quarter of this fiscal amid global macro headwinds.
Shares of Mphasis were trading 0.83 percent down at Rs 2,195.80 at 9.55 am on BSE.
The Bengaluru-based company’s revenue fell 4.6 percent YoY to Rs 3,252 crore in the quarter ended June, according to an exchange filing on July 20.
Net profit declined 1.2 percent to Rs 396 crore from Rs 401 crore in Q1 FY23.
EBIT margin was flat at 15.3 percent. New deal wins stood at USD 707 million.
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As per a CNBC-TV18 poll, the company was projected to post a net profit of Rs 395 crore and revenues of Rs 3,323 crore.
Shares of Mphasis are up 13 percent on a YTD basis.
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