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Mphasis' Q2FY24 Financial Performance Review

Oct 20, 2023

By: BlinkX Research Team

In this financial performance review, we delve into the results of Mphasis for Q2FY24 and analyze key metrics, including revenue, expenses, net profit, and margin.

REVENUE: 
The company reported a total income of ₹3,325 crores for Q2FY24, with a slight increase of 0.7% compared to the preceding quarter but a decline of -6.68 compared to Q2FY23.

EXPENSES: 
They also recorded expenses amounting to ₹2,803 crores in Q2FY24, with a -6.82%% decrease compared to the corresponding quarter of the previous fiscal year. Furthermore, expenses increased marginally when compared to the previous quarter.

NET PROFIT: 
The net profit of the Company for Q2FY24 was ₹392 crores, reflecting a -1.01% change compared to the preceding quarter and a -6.32% to Q2FY23.

MARGINS: 
Mphasis's margin in Q2FY24 was 11.79%. This figure showed a minor decrease of -0.20% compared to the previous quarter when the margin was 11.99%. Year-on-year, the margin exhibited a stable trend, with only a slight change compared to the corresponding quarter of the previous fiscal year.

In conclusion, Mphasis's financial performance in Q2FY24 reflects a relatively weak. These changes can be attributed to a falling topline, however,  further analysis is needed to discern the underlying trends.

Stay tuned for more detailed updates on Mphasis's financial performance in the coming quarters.