On a consolidated basis, the net profit of Mphasis reported a 4.1 per cent rise on a 3.2 per cent increase in net sales to Rs 3,519.82 crore in the second quarter of FY23 over the first quarter of FY23. The company has tumbled 4.69 per cent to Rs 2046.35.

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Compared with the second quarter of FY22, the revenue rose by 22.6 per cent, and the net profit was higher by 22.7 per cent. PBT in the second quarter of FY23 stood at Rs 555.05 crore, up 4.2 per cent quarter on quarter and 20.8 per cent year on year.

During the second quarter of FY23, the company recorded new TCV wins of $302 million in Direct, of which 81 per cent is in new generation services. Further, two large deal wins in the second quarter totalled $110 million.

Nitin Rakesh, Chief Executive Officer and Managing Director, Mphasis, said: “Our consistent performance is proof of our timely and continued investment in the right growth areas while executing on our fundamental strengths. We have institutionalized a strong deal archetype playbook by account for protecting the core, repeatable growth in capability-led transformation and accelerating from ‘Run’ to ‘Change’ at the speed of our clients.”