Shares of Mphasis fell over 4% on Friday even after the IT company reported a 10.8% increase in consolidated net profit to Rs 325.5 crore for the December 2020 quarter from Rs 293.6 crore in the year-ago period.
Following the result update, the stock price of Mphasis opened with a loss of 2.16% at Rs 1,006. The stock touched an intraday low of Rs 1,523.9, falling 4.74% on BSE. However, later, the stock also hit day's high of Rs 1,616.65, as against the last close of Rs 1,599.80.
Mphasis stock is trading higher than 50, 100 and 200-day but lower than 5, 20-day moving averages.
Mphasis stock has risen 4% in one week.
Market capitalisation of Mphasis stood at Rs 29,891.84 crore. The stock has touched a 52-week high of Rs 1,734.50 and a 52-week low of Rs 612.05. Mphasis stock, with Rs 10 face value has risen 12% in one month, 3% year to date and 780% in one year.
The IT major reported a 8.68% YoY growth in its consolidated revenues at Rs 2,474.39 crore in December quarter from Rs 2,276.7 crore a year ago.
Mphasis earnings per share (EPS) grew 10.7 per cent year-on-year to Rs 17.44.
"We are pleased with the results in a seasonally weak quarter and remain enthusiastic about our pipeline. As a client-centric organisation, Mphasis continues to stay obsessed with each customer's agenda. We are focused on staying consistent with our performance while continuing to keep our clients' transformation needs at the centre of our strategy and execution," said Mphasis CEO and Executive Director Nitin Rakesh.
Mphasis stock closed flat at Rs 1,600, rising 0.90 points or 0.06% on BSE.