 "Mphasis Q2 profit rises 10.8% to ₹469 cr on strong AI-led deal wins")
Mid-tier IT services company Mphasis reported a 10.8 per cent rise in net profit to Rs 469 crore for the second quarter ended September 30, FY26. Revenue from operations was up 10.3 per cent to Rs 3,902 crore.
“Our early, focused investments in AI have positioned Mphasis as a strategic partner for clients navigating their transformation journey. Another strong quarter of TCV wins of $528 million is a testimony to our AI-first approach delivering business outcomes across diverse industries,” said Nitin Rakesh, chief executive officer and managing director.
AI-led TCV wins, BFS pipeline drive quarterly growth
Total contract value (TCV) for the quarter stood at $528 million, with 42 per cent of the deals having some AI component. The banking and financial services (BFS) deal pipeline was up 45 per cent year-on-year. The company signed six large deals during the quarter, including a $100 million deal with a new BFS client and two $50 million deals.
Regional and sectoral momentum continues
Revenue from North America grew sequentially by 2.1 per cent, led by ramp-ups in recent large deals. By sector, the insurance business rose 31.5 per cent, while the technology, media, and telecom segment grew 24 per cent.