Mphasis investors choose to overlook near-term concerns
SummarySlower-than-expected deal ramp-ups kept sequential constant currency revenue growth flat during Q2FY24, missing analysts’ estimates. A relatively higher exposure to mortgage businesses has been the Achilles heel for Mphasis.
Shares of mid-cap technology company Mphasis Ltd have surged by 18% so far this fiscal year, outpacing the 7.5% rise in the sectoral Nifty IT index. This is despite its muted earnings performance over the last two quarters amid healthy deal wins.