Mphasis says attrition and supply issues are moderating but must ease further
Mphasis reported earnings for the September-ended quarter and is trading low by about 5 percent in reaction to its numbers as furloughs and mortgage slowdowns hit growth.
Mphasis reported its earnings for the September-ended quarter, following which its shares traded about 5 percent lower on Friday as furloughs and mortgage slowdowns hit the company's growth.
In an interview with CNBC-TV18, Nitin Rakesh, MD and CEO and Manish Dugar, CFO of the company spoke at length about the financial results and growth outlook going forward.
“While we have seen initial signs of supply easing out and attrition levels moderating, it is still at a level which we would like to see going down. So as things progress we have enough tailwinds, which gives us the confidence to maintain that lower end,” Dugar said.
However, Mphasis CEO Rakesh noted that if macros get worse, competitive pricing would increase. “As we head into 2023, if the uncertainty or the macro gets worse then we will start using the playbook of vendor consolidation driven wallet share gains and at that point, there may be a little bit more competitive intensity on pricing,” he said.
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