Mphasis shares rise over 3% after Q4 net profit rises 13.52%; company declares dividend of ₹57/share

On the National Stock Exchange, Mphasis shares rose as much as 3.23% to hit an intraday high of ₹2,547.80.

Its revenue from operations rose 9% annually to ₹3,710 crore from ₹3,412 crore in the year-ago period.

The company recommended dividend of ₹57 per share which is subject to approval of shareholders.

“We are pleased with a quarter of broad-based performance, reporting the highest QoQ growth in 12 quarters, highest TCV wins in 7 quarters, highest ever quarterly and full year EPS, and 86% YoY growth in pipeline. In this uncertain macro environment, our focus is on continued investments in growth, keeping Tech and AI at the core, and leveraging solutions to transform and modernize our client’s technology and operations stack,” said Nitin Rakesh, Chief Executive Officer, and Managing Director, Mphasis.

During the quarter, a large American bank chose the Gurugram-based IT company for its data centre modernization. In another deal, Mphasis is partnering with North American logistics and transportation major in its transformation journey into a data-driven enterprise.

Mphasis also won a deal with a Healthcare Services major that will utilize the capabilities of the Javelina platform and the integrated Healthcare Experience Framework (HEF) to transform the user experience and back-end processing of enrolment in their products.

As of 9:31 am, Mphasis shares traded 1.25% higher at ₹2,499, outperforming the NIFTY IT index which was up 0.74%.