Mphasis Q2 FY27 Results: Consolidated Net Profit ₹561 Crore on Total Income of ₹4,728 Crore
- Earnings
- IT services
Reviewed byRachit TripathiBlacklitt Research
Mphasis (NSE: MPHASIS) reported consolidated total income of ₹4,728.10 crore and consolidated net profit of ₹561.13 crore for the quarter ended 30 Sep 2026, and standalone total income of ₹2,810.11 crore and standalone net profit of ₹513.71 crore, it said in a filing on 05 Nov 2026.
Key highlights
Consolidated
Including its subsidiaries
- Total income: ₹4,728.10 crore, up 18.9% YoY and 5.8% QoQ
- Net profit and EPS: ₹561.13 crore, up 19.6% YoY and 14.6% QoQ; basic EPS ₹29.39
- Other income: ₹147.17 crore, up 97.2% YoY and 77.6% QoQ
Standalone
The company on its own, without its subsidiaries
- Total income: ₹2,810.11 crore, up 16.1% YoY and 1.8% QoQ
- Net profit and EPS: ₹513.71 crore, up 30.7% YoY and 11.9% QoQ; basic EPS ₹26.91
- Other income: ₹131.54 crore, up 149.1% YoY and 119.3% QoQ
Summary
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 4,728.10 | 3,976.55 | +18.9% | 4,466.91 | +5.8% | |
| Revenue from operations | 4,580.93 | 3,901.91 | +17.4% | 4,384.05 | +4.5% |
| Other income | 147.17 | 74.64 | +97.2% | 82.86 | +77.6% |
| 561.13 | 469.07 | +19.6% | 489.51 | +14.6% | |
| Profit before tax | 767.57 | 624.78 | +22.9% | 682.79 | +12.4% |
| Finance costs | 55.21 | 43.77 | +26.1% | 48.52 | +13.8% |
| Depreciation | 153.60 | 127.70 | +20.3% | 147.06 | +4.5% |
| Tax expense | 206.44 | 155.71 | +32.6% | 193.28 | +6.8% |
| Net profit margin | 11.87% | 11.80% | +0.07 pp | 10.96% | +0.91 pp |
| EPS, basic (₹) | 29.39 | 24.65 | +19.2% | 25.65 | +14.6% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Consolidated net profit grew faster than total income in the quarter: 19.6% YoY against 18.9%, and 14.6% QoQ against 5.8%. Revenue from operations rose 17.4% YoY, so the gap is largely other income, which reached ₹147.17 crore, or 19.2% of profit before tax of ₹767.57 crore.
Other income is now 3.1% of total income, against about 1.9% in the year-earlier quarter. Finance costs of ₹55.21 crore are 1.2% of total income. The filing gives no reason for the rise in other income, so the share of profit from that line cannot be separated from operations.
The press release says new TCV wins were USD 466 million in the quarter, of which 66% is AI led, and gross margin was 27.1%, down 100 bps YoY and up 20 bps QoQ. The operating margin was 14.8%. The consolidated figures carry the TAP loss of ₹341.84 million for the six months, and the notes say TAP contributed ₹36.26 million to revenue in the same period.
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 2,810.11 | 2,419.59 | +16.1% | 2,761.05 | +1.8% | |
| Revenue from operations | 2,678.57 | 2,366.79 | +13.2% | 2,701.08 | -0.8% |
| Other income | 131.54 | 52.80 | +149.1% | 59.97 | +119.3% |
| 513.71 | 393.09 | +30.7% | 459.21 | +11.9% | |
| Profit before tax | 694.60 | 521.76 | +33.1% | 621.07 | +11.8% |
| Finance costs | 28.33 | 17.70 | +60.0% | 15.95 | +77.6% |
| Depreciation | 57.43 | 44.04 | +30.4% | 50.97 | +12.7% |
| Tax expense | 180.90 | 128.67 | +40.6% | 161.85 | +11.8% |
| Net profit margin | 18.28% | 16.25% | +2.03 pp | 16.63% | +1.65 pp |
| EPS, basic (₹) | 26.91 | 20.66 | +30.3% | 24.06 | +11.8% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Standalone profit grew faster than income in both comparisons: net profit rose 30.7% YoY, against 16.1% for total income, and 11.9% QoQ, against 1.8%. Profit before tax grew 33.1% YoY, so the tax charge of ₹180.90 crore, or 26.0% of profit before tax, took a smaller share of the increase.
Standalone other income of ₹131.54 crore is 18.9% of profit before tax, while revenue from operations rose 13.2% YoY. Standalone finance costs rose 60.0% YoY to ₹28.33 crore, from ₹17.70 crore a year earlier.
Consolidated net profit of ₹561.13 crore is ₹47.42 crore above standalone net profit.
Inference
The filing says the Board approved the results on 5 Nov 2026 with an unmodified audit opinion from B S R & Co. LLP. A final dividend of ₹62 per equity share for FY26 was approved at the AGM on 23 Jul 2026 and paid in the quarter, and consolidated dividends paid in the six months were ₹11,827.54 million.
The filing says the Group has made acquisitions of OKIN Process, Inc. and Theory and Practice Business Intelligence Inc., and an additional ₹383.30 million investment in Aokah, with the shares pending allotment. Red Oak Tech is a definitive agreement of up to ₹2,650.55 million that has not been consummated. The filing does not say when, or whether, it will be.
The company has received a Canada Revenue Agency demand of CAD 6.60 million on GST/HST. The basis of the demand and the amount payable are not stated, and the filing does not say what effect it will have on the financial statements.
Filed with BSE on . Reference: Original filing (PDF)
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