Mphasis Boosts Profits Amid AI-Driven Growth Spurt

Mphasis, an IT solutions company, reported a 10.79% rise in net profit to Rs 469 crore for the July-September quarter, fueled by its focus on AI-driven transformations. The company also achieved a revenue growth of 10.34% and secured $528 million in total contract value wins.

Mphasis, a prominent IT solutions provider, announced a 10.79% increase in consolidated net profit, reaching Rs 469 crore for the July-September quarter.

The company's revenue from operations surged 10.34% to Rs 3,901.91 crore compared to the previous year, underscoring robust financial performance.

CEO Nitin Rakesh credited strategic AI investments for the uptake, as new-gen services contributed to 87% of the $528 million contract wins.

(With inputs from agencies.)