- Home
- Results news
- Mphasis
- Q2 FY27 results
Mphasis Q2 FY27 results: net profit up 19.6% to ₹561.13 crore, revenue up 17.4%
Mphasis Limited reported Q2 FY27 consolidated revenue of ₹4,581 crore, up 17.4% from Q2 FY26, with a net profit of ₹561.13 crore and basic EPS of ₹29.39. EBITDA rose 14.9% to ₹829.22 crore, while the EBITDA margin declined 0.4 percentage points to 18.1%.
Key points
- Q2 FY27 consolidated revenue was ₹4,581 crore, up 17.4% from ₹3,902 crore in Q2 FY26 and 4.5% from ₹4,384 crore in Q1 FY27.
- Q2 FY27 EBITDA was ₹829.22 crore, up 14.9% year on year, with the margin at 18.1% compared with 18.5% in Q2 FY26.
- Net profit was ₹561.13 crore, up 19.6% from ₹469.07 crore a year ago and 14.6% from ₹489.51 crore in the previous quarter; basic EPS was ₹29.39.
- For H1 FY27, revenue was ₹8,964.98 crore, up 17.4%, while PAT was ₹1,050.63 crore, up 15.4%, and basic EPS was ₹55.04.
- Banking and Financial Services revenue rose 22.7% to ₹2,474.04 crore and EBIT was ₹795.75 crore; Logistics and Transportation revenue fell 23.7% to ₹166.69 crore.
How did Mphasis perform in Q2 FY27?
Mphasis reported consolidated revenue from operations of ₹4,581 crore in Q2 FY27, up ₹679.02 crore or 17.4% from ₹3,902 crore in Q2 FY26 and up ₹196.88 crore or 4.5% from ₹4,384 crore in Q1 FY27. Total income was ₹4,728.1 crore, compared with ₹3,976.55 crore a year ago and ₹4,466.91 crore in the previous quarter.
EBITDA rose ₹107.61 crore or 14.9% to ₹829.22 crore from Q2 FY26 and ₹33.72 crore or 4.2% from Q1 FY27. The EBITDA margin was 18.1% in Q2 FY27, compared with 18.5% in Q2 FY26 and 18.1% in Q1 FY27.
Profit before tax was ₹767.57 crore, up ₹142.79 crore or 22.9% year on year and ₹84.79 crore or 12.4% sequentially. Net profit was ₹561.13 crore, compared with ₹469.07 crore in Q2 FY26 and ₹489.51 crore in Q1 FY27, while basic EPS was ₹29.39.
The company also reported standalone Q2 FY27 revenue of ₹2,678.57 crore, up 13.2%, and profit after tax of ₹513.71 crore, compared with standalone profit before tax of ₹393.09 crore.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 4,581 | 4,384 | 3,902 | +17.4% | +4.5% |
| Other income | 147.17 | 82.86 | 74.64 | +97.2% | +77.6% |
| Total expenses | 3,961 | 3,784 | 3,352 | +18.2% | +4.7% |
| EBITDA | 829.22 | 795.50 | 721.61 | +14.9% | +4.2% |
| EBITDA margin | 18.1% | 18.1% | 18.5% | −0.4 pp | +0.0 pp |
| Profit before tax | 767.57 | 682.78 | 624.78 | +22.9% | +12.4% |
| Tax | 206.44 | 193.28 | 155.71 | +32.6% | +6.8% |
| Net profit | 561.13 | 489.51 | 469.07 | +19.6% | +14.6% |
| EPS (₹) | 29.39 | 25.65 | 24.65 | +19.2% | +14.6% |
EBITDA here is revenue from operations less operating costs (total expenses excluding finance costs and depreciation): before other income and exceptional items. Growth is shown only when both figures are positive. Source: Company's results filing (XBRL).
What changed in Mphasis' costs and profit?
Total expenses increased ₹608.76 crore or 18.2% to ₹3,961 crore from Q2 FY26. Employee cost rose ₹231.81 crore or 10.3% to ₹2,474 crore, finance costs increased ₹11.44 crore or 26.1% to ₹55.21 crore, depreciation rose ₹25.90 crore or 20.3% to ₹153.60 crore, and other expenses increased ₹339.60 crore or 36.2% to ₹1,277 crore.
Other income increased ₹72.53 crore or 97.2% to ₹147.17 crore from Q2 FY26 and ₹64.31 crore or 77.6% from Q1 FY27. There was no exceptional item in Q2 FY27, Q2 FY26 or Q1 FY27. Tax expense was ₹206.44 crore, up ₹50.73 crore or 32.6% year on year and ₹13.16 crore or 6.8% sequentially.
Against Q1 FY27, employee cost rose ₹65.76 crore or 2.7%, finance costs increased ₹6.69 crore or 13.8%, depreciation rose ₹6.54 crore or 4.4%, and other expenses increased ₹97.40 crore or 8.3%. Total expenses were up ₹176.40 crore or 4.7% sequentially.
The filed results do not state the reasons for the movements in other expenses, finance costs, other income or tax. The quarter’s profit before tax was ₹767.57 crore, while net profit was ₹561.13 crore.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 0 | 0 | 0 | |
| Employee cost | 2,474 | 2,243 | +231.81 | +10.3% |
| Finance costs | 55.21 | 43.77 | +11.44 | +26.1% |
| Depreciation | 153.60 | 127.70 | +25.90 | +20.3% |
| Other expenses | 1,277 | 937.61 | +339.60 | +36.2% |
| Total expenses | 3,961 | 3,352 | +608.76 | +18.2% |
| Other income | 147.17 | 74.64 | +72.53 | +97.2% |
| Tax | 206.44 | 155.71 | +50.73 | +32.6% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In H1 FY27, consolidated revenue was ₹8,964.98 crore, up ₹1,330.58 crore or 17.4% from ₹7,634.4 crore in H1 FY26. Total income was ₹9,195.01 crore, up ₹1,405.02 crore or 18.0% from ₹7,789.99 crore.
H1 FY27 profit before tax was ₹1,450.36 crore, up ₹215.51 crore or 17.5% from ₹1,234.85 crore. PAT was ₹1,050.63 crore, compared with ₹910.78 crore in H1 FY26, an increase of ₹139.85 crore or 15.4%, while basic EPS rose from ₹47.87 to ₹55.04.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 8,965 | 7,634 | +17.4% |
| Profit before tax | 1,450 | 1,235 | +17.5% |
| Net profit | 1,051 | 910.78 | +15.4% |
| EPS (₹) | 55.04 | 47.87 | +15.0% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 30 September 2026, total assets were ₹18,304.19 crore, compared with ₹17,781.92 crore at 31 March 2026. Total equity was ₹10,797.75 crore against ₹10,743.71 crore, borrowings were ₹2,137.8 crore against ₹1,792.88 crore, and cash was ₹680.57 crore against ₹1,122.92 crore.
Trade receivables were ₹5,111.12 crore at 30 September 2026, compared with ₹4,192.72 crore at 31 March 2026. Trade payables were ₹1,534.34 crore against ₹1,356.78 crore, and there were no inventories at either date.
H1 FY27 operating cash flow was ₹311.51 crore, compared with ₹669.74 crore in H1 FY26. Investing cash flow was ₹356.91 crore against ₹613.97 crore, financing cash flow was -₹1,114.52 crore against -₹1,190.42 crore, and capex was ₹23.85 crore against ₹45.12 crore.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 18,304 | 17,782 |
| Total equity | 10,798 | 10,744 |
| Borrowings | 2,138 | 1,793 |
| Cash and equivalents | 680.57 | 1,123 |
| Inventories | 0 | 0 |
| Trade receivables | 5,111 | 4,193 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 311.51 | 669.74 |
| Cash from investing | 356.91 | 613.97 |
| Cash from financing | −1,115 | −1,190 |
| Capital expenditure | 23.85 | 45.12 |
Source: Company's results filing (XBRL).
How has Mphasis done over the last 8 quarters?
Revenue rose in each of the last eight quarters, while profit also rose year on year in each of the last eight quarters. Q2 FY27 revenue of ₹4,581 crore was the highest in the reported series, compared with ₹3,561.34 crore in Q3 FY25.
Q2 FY27 profit of ₹561.13 crore was also the highest in the series, compared with ₹427.81 crore in Q3 FY25. The EBITDA margin reached a high of 19.0% in Q3 FY25 and a low of 18.1% in the latest two quarters.
Revenue increased from ₹4,242.67 crore in Q4 FY26 to ₹4,384.05 crore in Q1 FY27 and ₹4,580.93 crore in Q2 FY27. Profit rose from ₹509.64 crore to ₹489.51 crore before increasing to ₹561.13 crore.
Which businesses drove the quarter?
Banking and Financial Services reported revenue of ₹2,474.04 crore, up 22.7% from ₹2,016.14 crore in Q2 FY26, and EBIT of ₹795.75 crore against ₹627.69 crore. Technology Media and Telecom revenue rose 18.1% to ₹899.96 crore, while EBIT rose to ₹254.07 crore from ₹190.04 crore.
Insurance revenue rose 23.9% to ₹682.46 crore from ₹550.79 crore, while EBIT was ₹88.55 crore compared with ₹178.7 crore. Others revenue increased 9.5% to ₹420.74 crore and EBIT was ₹128.93 crore against ₹142.57 crore.
Logistics and Transportation revenue fell 23.7% to ₹166.69 crore from ₹218.38 crore, while EBIT was ₹37.71 crore compared with a loss of ₹11.57 crore. Unallocated-hedge revenue was -₹62.97 crore and EBIT was -₹62.97 crore, compared with -₹29.73 crore in Q2 FY26.
| Segment | Revenue | Revenue YoY | EBIT | EBIT margin |
|---|---|---|---|---|
| Banking and Financial Services | 2,474 | +22.7% | 795.75 | 32.2% |
| Logistics and Transportation | 166.69 | −23.7% | 37.71 | 22.6% |
| Technology Media and Telecom | 899.96 | +18.1% | 254.07 | 28.2% |
| Insurance | 682.46 | +23.9% | 88.55 | 13.0% |
| Others | 420.74 | +9.5% | 128.93 | 30.6% |
| Unallocated - hedge | −62.97 | −62.97 |
Source: Company's results filing (XBRL segment data).
What else did the company announce?
The Board approved the audited standalone and consolidated financial results for the quarter and half year ended 30 September 2026 and took on record the auditors’ reports issued by M/s B S R & Co. LLP. The same-day filings did not announce a dividend, fund raise or appointment. The Board also authorised four executives to determine materiality and make disclosures to the stock exchanges.
What did Mphasis' management say?
Management said the company expected H2 momentum to continue and guided to FY27 revenue growth of low double-digits despite the uncertain macro environment and execution requirements. It also guided to an operating-margin band of 14.75%–15.75% and said it targets 80% conversion of net income to operating cash flow, normalised in FY28.
Management said the pipeline reached $9,256 Mn, up 23% year on year, with 71% AI-led, while Q2 TCV wins were $466 Mn and 66% AI-led. It identified AI-led enterprise modernisation through Mphasis Tria and NeoIP as a priority and said Direct revenue grew 3.5% QoQ and 11.3% YoY in constant currency.
Management identified execution, backlog conversion and working-capital timing as risks. It said $39.5 Mn of remittances initiated on 30 September were received in October, normalised DSO was 105 days and normalised cash generation was $34 Mn. It also noted that Logistics and Transportation revenue declined 27.8% YoY and 12.0% QoQ.
How did other Computers - Software & Consulting companies do?
A total of 39 Computers - Software & Consulting companies were compared for the quarter, with a median revenue growth of 14.2%. Of the peers, 25 grew slower than Mphasis and 14 grew faster than the company, which reported Q2 FY27 revenue growth of 17.4%.
Profit was compared for 39 peers, of which 24 reported higher profit. The peer comparison was as of 5 November 2026.
| Mphasis revenue growth (YoY) | +17.4% |
|---|---|
| Median of 39 other Computers - Software & Consulting companies | +14.2% |
| Companies with slower revenue growth than Mphasis | 25 of 39 |
| Companies with faster revenue growth than Mphasis | 14 of 39 |
| Companies whose net profit rose | 24 of 39 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Mphasis' revenue in Q2 FY27?
Revenue from operations was ₹4,581 crore, up 17.4% from ₹3,902 crore in Q2 FY26 (consolidated).
Did Mphasis make a profit in Q2 FY27?
Yes. Net profit was ₹561.13 crore, against a net profit of ₹469.07 crore in Q2 FY26.
What was Mphasis' EPS in Q2 FY27?
Basic earnings per share were ₹29.39, against ₹24.65 in Q2 FY26.
When did Mphasis announce its Q2 FY27 results?
On 5 November 2026, in a filing to the BSE.
Sources
- Board Meeting Outcome for Outcome Of The Board Meeting (BSE, 5 November 2026) · PDF
- Outcome Of The Board Meeting (BSE, 5 November 2026) · PDF
- Announcement under Regulation 30 (LODR)-Press Release / Media Release (BSE, 5 November 2026) · PDF
- The investor presentation (5 November 2026)
How this was written: every figure in the tables and charts is calculated from the company’s filed results (XBRL) and MarketPing’s price measurements. The text is drafted with AI from those figures and the filings, and a checker removes any sentence carrying a number it cannot trace to them. How we write these.
This is information, not investment advice. MarketPing does not recommend buying or selling any security.