Mphasis share price rallied over 5% on Friday, extending its gain for the third consecutive session. Mphasis shares surged as much as 5.4% to ₹3,078.50 apiece on the BSE. In the past three sessions, Mphasis stock price has jumped 11%.
The software services company Mphasis reported a net profit of ₹427.8 crore for the third quarter of FY25, up marginally by 1% from ₹423.3 crore in the previous quarter.
The company’s revenue in Q3FY25 grew 0.7% to ₹3,561.3 crore from ₹3,536.1 crore in the previous quarter. The company recorded Total Contract Value (TCV) wins of $351 million in the quarter. TCV grew 46% to ₹2,900 crore during the quarter.
At the operating level, Mphasis’ earnings before interest and tax (EBIT) increased 0.2% to ₹545.5 crore from ₹544.2 crore, quarter-on-quarter (QoQ). EBIT margin in the December quarter dipped slightly to 15.3% from 15.4% in the September quarter.
Should you buy Mphasis shares?
Mphasis share price has gained over 4% in one month and more than 6% in six months. The IT stock has risen over 18% in one year and has delivered multibagger returns of 236% in five years.
Anshul Jain, Head of Research at Lakshmishree Investment and Securities, believes that a strong rebound in Mphasis shares signals fresh upside potential.
“Mphasis has exhibited a strong technical rebound after taking support at its weekly swing low of ₹2,750. Mphasis stock surged with volumes exceeding 4.7 million shares, an 834% spike over its 50-day average, indicating weak longs have been shaken out. This sharp recovery, coupled with strong earnings, suggests renewed buying interest. The immediate target stands at ₹3,200, a crucial resistance level,” said Jain.
According to him, a breakout above ₹3,200 will place Mphasis stock in uncharted territory, opening doors for a medium-term rally toward ₹4,000.
With bullish momentum building, Mphasis appears poised for a sustained uptrend in the coming weeks, he added.
On Friday, Mphasis shares ended 2.97% higher at ₹3,007.45 apiece on the BSE.
