Mphasis Q3 Results Review - Digital Risk Decline Leads To Result Miss; Near Term Headwinds: Dolat Capital

BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy. .Dolat Capital Report.Mphasis Ltd. reported revenue decline of 2.6% constant currency QoQ (our estimate: up 1.4%), where direct business declined 2.8% constant currency QoQ (our estimate: up 1.6%). Sharp fall in mortgage business of digital risk, Q3 seasonality of furloughs and lower number of working days led to de-growth. DXC grew 0.8% QoQ in CC terms.Ebit margin stood at 15.3% and was flat QoQ (our estimate: 15.2%). Management has retained operating profit margin guidance of 15.25-17% for Q4. Signed total contract value of $401 million up 20% YoY.Mphasis provided additional color on growth, where direct revenue grew 6.3% YoY in CC terms, but excluding digital risk, growth was 14.7% YoY in CC, reflecting that remaining verticals continued to see positive momentum.Q3 performance was impacted by digital risk, while overall total contract value wins and margin retention provided some bit of stability..Click on the attachment to read the full report:.L&T Tech Q3 Results Review - Muted Growth, Guidance Cut; Cautious Outlook: Dolat Capital.DISCLAIMERThis report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Mphasis Q3 Results Review - Digital Risk Decline Leads To Result Miss; Near Term Headwinds: Dolat Capital

Mphasis reported revenue decline of 2.6% constant currency QoQ versus our estimate: up 1.4%.

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