Mphasis share price jumps 5% in a weak market; what is driving the stock after Q1 results?
The mid-cap IT company's Q1 results seem to have boosted investors' interest in the stock as it looks set to snap its seven-day losing streak on Friday.
On Thursday, July 24, Mphasis said it recorded the highest-ever deal wins total contract value (TCV) of $760 million in Q1FY26, of which 82 per cent were in new-gen services.
'We were early adopters and implementers of AI-based solutions for our clients, which has positioned us well to help with their AI journey, create efficiencies, cost savings and minimise project risks, while at the same time, accelerating our business. This is reflected in our highest-ever quarterly TCV of $760 million, of which 68 per cent is AI-led. Overall, it is a good start to the new financial year, which sets the stage for the year ahead,' said Nitin Rakesh, Chief Executive Officer and Managing Director, Mphasis.
Mphasis's gross revenue for the quarter grew 0.4 per cent quarter-on-quarter (QoQ) and 9.2 per cent year-on-year (YoY) in Q1FY26 on a reported basis and grew 1 per cent QoQ and 6.5 per cent YoY in constant currency.
Net profit, however, declined 1.1 per cent QoQ but grew 9.2 per cent YoY to ₹ 441.7 crore.
(This is a developing story. Please check back for fresh updates.)
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