Mphasis meets third-quarter revenue estimates as banks resume tech spending

Indian information technology company Mphasis reported third-quarter ‍revenue in line with estimates on Thursday, with banking and financial ⁠services clients resuming spending on technology amid better macroeconomic and policy clarity.

Consolidated revenue for the quarter ended December 31 rose 12.3% to 40.03 ‌billion rupees ($436.98 ‌million), close to analysts’ average estimate of 40.08 billion rupees, according to ‌data compiled by LSEG.