Shares of Mphasis rallied 12 per cent to hit a new high of Rs 2,692.35 on the BSE in intra-day trade on Friday after the company reported a healthy set of June quarter (Q1FY22) numbers. The company is an Information Technology (IT) solutions provider specialising in cloud and cognitive services. Its revenue increased 6.8 per cent quarter-on-quarter (QoQ) and 16.1 per cent year-on-year (YoY) to $362.9 mainly led by a 10.8 per cent QoQ increase in Direct revenues (91 per cent of revenues). In Constant Currency (CC) terms, growth was at 5.9 per cent QoQ and 16.3 per cent YoY. EBIT (earnings before interest tax) margin declined by 20 basis points (bps) QoQ to 15.9 per cent. Profit after tax (PAT) increased 7.2 per cent QoQ to Rs 339.7 crore mainly due to higher other income.
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