Mphasis has approved the allotment of 37,722 and 93,663 Equity shares against exercise of Employee Stock Options (ESOPs) and Restricted Stock Units (RSUs) under Employee Stock Options Plan 2016 (ESOP 2016) and Restricted Stock Units Plan 2021 (RSU Plan 2021) respectively. Powered by Capital Market - Live

Revenue from operations rose 3.32% to Rs 3,536.14 crore in Q2 FY25 as against Rs 3,422.46 crore posted in Q1 FY25. As compared with Q2 FY24, the company's net profit increased 8% while revenue grew by 7.92% in Q2 FY25. Profit before tax was at Rs 562.57 crore in quarter ended 30 September 2024 (up 4.70% QoQ and up 7.84% YoY). The company's gross revenue increased 3.1% QoQ and 7.0% YoY in Q2 FY25 on a reported basis and grew 2.4% QoQ and 5.4% YoY in constant currency. Direct revenue grew 3.2% QoQ and 7.9% YoY on a reported basis and grew 2.4% QoQ and 6.2% YoY in constant currency. In Q2 FY25, the company's new Total Contract Value (TCV) stood at $207 million in its direct segment, with 88% of this amount coming from new-generation services. Nitin Rakesh, chief executive officer, and managing director, Mphasis, said, 'Despite many ongoing challenges, the macro environment continues to trend in the right direction. We are witnessing increased AI adoption across clients to address enterprise challenges with higher efficiency and accuracy, beyond cost advantage. Savings led transformation TM thesis is core to all our deal archetypes and solutions, thus significantly enhancing service delivery and savings for clients.' Meanwhile, the company announced that its board of directors approved further investments of up to '30 million in the equity share capital of Mphasis Europe BV, a wholly owned subsidiary. The primary objective of this investment will enable Mphasis Europe BV inter alia in repayment of borrowings and the investment will be made by end of March 2025. Mphasis is an information technology (IT) solutions provider specializing in cloud and cognitive services.Powered by Capital Market - Live

The Board of Mphasis at its meeting held on 16 October 2024 has approved the investment of up to o ' 30 million in the equity share capital of Mphasis Europe BV, a wholly owned subsidiary of the Company. Powered by Capital Market - Live

Net profit of Mphasis rose 8.01% to Rs 423.33 crore in the quarter ended September 2024 as against Rs 391.95 crore during the previous quarter ended September 2023. Sales rose 7.92% to Rs 3536.15 crore in the quarter ended September 2024 as against Rs 3276.50 crore during the previous quarter ended September 2023. ParticularsQuarter EndedSep. 2024Sep. 2023% Var. Sales3536.153276.50 8 OPM %18.3218.18 - PBDT666.13610.64 9 PBT562.57521.66 8 NP423.33391.95 8 Powered by Capital Market - Live

Mphasis announced the election of Jan Kathleen Hier, the Company's Independent Director since December 2015, as the Chairperson of the Board, effective 1 October 2024. Hier succeeds Davinder Singh Brar, who retires effective 30 September 2024, consequent to successful completion of term, as an Independent Director, approved by the shareholders. Hier previously served as a partner at a start-up and as Executive Vice President at Charles Schwab, where she led centralized support services, including Schwab Technology Services, Operational Services, Corporate Project Management, Operational Risk Management, and Offshore Services. During her tenure at Schwab, she also held several senior leadership positions, including Chief Information Officer, Executive Vice President of Human Resources, and Head of Electronic Brokerage Technology.Powered by Capital Market - Live

Mphasis will hold a meeting of the Board of Directors of the Company on 16 October 2024.Powered by Capital Market - Live

Mphasis Ltd fell 3.84% today to trade at Rs 3055.8. The BSE Information Technology index is down 0.96% to quote at 43540.99. The index is up 3.92 % over last one month. Among the other constituents of the index, Oracle Financial Services Software Ltd decreased 2.27% and Zaggle Prepaid Ocean Services Ltd lost 1.87% on the day. The BSE Information Technology index went up 31.12 % over last one year compared to the 22.77% surge in benchmark SENSEX. Mphasis Ltd has added 2.61% over last one month compared to 3.92% gain in BSE Information Technology index and 3.18% rise in the SENSEX. On the BSE, 3368 shares were traded in the counter so far compared with average daily volumes of 19567 shares in the past one month. The stock hit a record high of Rs 3186.95 on 17 Sep 2024. The stock hit a 52-week low of Rs 2068.45 on 26 Oct 2023.Powered by Capital Market - Live

Mphasis announced the appointment of Ajay Arya as Head of Mergers & Acquisitions (M&A). Ajay will be based in New York and lead the entire process, including strategy, evaluation, deal sourcing, negotiation, diligence management and post-merger integration.Powered by Capital Market - Live

Mphasis has allotted 53,645 equity shares under ESOP 2016 and 462 equity shares under RSU 2021 on 16 September 2024. Powered by Capital Market - Live

Mphasis announced the opening of its Innovation Hub for Mphasis Europe in London's iconic Tower 42 building. This strategic hub signifies Mphasis' commitment to pioneering Quantum technologies within the UK and globally. The facility will serve as a Centre of Excellence (CoE) for developing cutting-edge Quantum Computing, Quantum Cryptography and Artificial Intelligence (AI) solutions. These solutions will address critical industry challenges such as algorithmic underwriting, catastrophic risk modelling, and fraud detection. Mphasis' expertise will empower businesses in the UK and worldwide to leverage the transformative power of Quantum technologies. The UK has already established itself as a global leader in quantum technologies. Government's investment in the field has been doubled to '2.5 billion over the next ten years. Recognising its immense potential, the UK has prioritised quantum technologies alongside other key advancements including AI, engineering biology, semiconductors, and future telecoms. Mphasis has steadily expanded its UK presence over the past years and aims to double the headcount over the next three years through the London innovation hub which marks the next chapter in this commitment. The centre will be a magnet for top local and international tech talent, fostering collaboration and driving innovation across diverse industries including banking, financial services, and insurance. This strategic move positions Mphasis to leverage the UK's rich talent pool, address evolving client needs and thrive within a supportive technological ecosystem.Powered by Capital Market - Live