Mphasis, is a global Information Technology (IT) solutions provider that primarily focuses on providing cloud and cognitive services as well as applying next-generation technology in order to aid enterprises transform businesses globally.
Financial Results:
For the quarter ended December 2022, the company reported an 15.3% increase in YoY profit to stand at INR 412.3 crore. In the last quarter, the profits decreased at a rate of 1.5% from INR 418.5 crore, on a sequential basis.
On one hand it can be observed that the company’s core business continues to perform well.
On one hand, our core business continues to perform well. On the other hand, the company’s mortgage business faces cyclical challenges brought on by interest rate changes and market reactivity.