MPS Limited (NSE: MPSLTD) reported consolidated revenue of INR 18,249 lakh for the third quarter ended Dec. 31, 2025, a decrease of 2.08% from INR 18,636 lakh in the same period of the previous year. Consolidated net profit for the quarter reached INR 3,550 lakh, representing a 12.80% decline from the INR 4,071 lakh reported in the third quarter of the prior fiscal year.
For the nine-month period ended Dec. 31, 2025, the company recorded consolidated revenue of INR 56,321 lakh, an increase of 3.38% compared to INR 54,478 lakh in the previous year. Consolidated net profit for the nine-month period rose to INR 12,618 lakh, a 23.91% increase from INR 10,184 lakh in the corresponding period.
Segment Financial Highlights
The company’s performance across its three primary business segments for the third quarter included:
• Research Solutions: Revenue for the segment reached INR 11,554 lakh, compared to INR 11,668 lakh in the year-ago quarter.
• Education Solutions: Segment revenue increased to INR 4,433 lakh from INR 3,983 lakh in the prior year.
• Corporate Learning: Revenue reached INR 2,262 lakh, a decline from INR 2,985 lakh in the third quarter of the previous year.
Business and Operations Update
MPS Limited recorded an exceptional item of INR 7.02 crore (INR 702 lakh) during the quarter. This provision is attributed to defined benefit obligations resulting from the implementation of the New Labour Code by the Government of India.
In governance changes, the board took on record the resignation of Ms. Yamini Tandon from the position of Non-Executive Director and all associated board committees, effective Feb. 2, 2026. The company cited personal reasons for the departure.
Operationally, the material subsidiary MPS Interactive Systems Limited (MPSi) underwent restructuring. An investor, Mr. Rodney Charles Beach, provided INR 874 lakh through a preferential allotment of equity shares in MPSi and assumed the role of President of the Corporate Learning segment.
Strategic Acquisitions and Mergers
On Jan. 30, 2026, MPS North America LLC, a wholly owned subsidiary, entered into a stock purchase agreement to acquire a 100% stake in Delaware-based Unbound Medicine, Inc. The total consideration for the transaction is USD 16.50 million, subject to customary adjustments.
Earlier in the fiscal year, on Oct. 28, 2025, MPSi completed the 100% acquisition of the Liberate Group, which includes Liberate Learning Pty Ltd, App-eLearn Pty Ltd, and Liberate eLearning Pty Ltd. Additionally, a draft scheme of amalgamation for the merger of ADI BPO Services Limited into MPS Limited remains under review by designated stock exchanges for a No Objection Certificate.
Guidance and Outlook
Management stated the company is positioned to achieve an earnings per share (EPS) of over INR 100 for the first time in the 2026 fiscal year. As of Dec. 31, 2025, the company reported a debt-free balance sheet with total cash and cash equivalents, including mutual fund investments, of INR 143 crore.
Performance Summary
Consolidated quarterly revenue decreased 2.08%, while net profit declined 12.80%. Education Solutions recorded a revenue increase of 11.30%, while the Research Solutions segment revenue remained stable. The company announced a USD 16.50 million acquisition and maintains zero debt.