India: Blackstone has its task cut out with Mphasis

Blackstone. Photo: Bloomberg

Mphasis Ltd’s latest results are a reminder that growth remains a challenge for the company. Revenue fell by 1.6% sequentially to $225 million. Business that comes via Hewlett Packard Enterprise (HPE) fell only marginally last quarter, which is a heartening sign. But the direct channel business, the main growth driver for the company, reported a 0.46% sequential decline in revenue to $160 million. That is a worry.

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