Mphasis and Coforge Perform Well in Q2; Sonata Faces Seasonal Decline
Mphasis Ltd reported its best Q2 in five years with a 3.2% sequential revenue increase to $486 million, driven mainly by financial institutions. Coforge Ltd was the fastest-growing mid-sized IT services firm in Q2. Sonata Software faced a 26% revenue drop to $256 million due to seasonal weakness in its domestic software license sales, which form about 60% of its revenue. These results highlight mixed performances among India’s mid-sized tech companies in Q2.
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