Gross revenue grew 26.8% YoY in Q1 FY 2023 ~ Mphasis records new TCV wins of USD 302 million in Direct business

 Gross revenue grew 26.8% YoY in Q1 FY 2023

 

~ Mphasis records new TCV wins of USD 302 million in Direct business

 

Mumbai, 21 July 2022

 

Mphasis Limited (BSE - 526299; NSE - MPHASIS), an Information Technology (IT) solutions provider specializing in cloud and cognitive services, today announced its financial results for the quarter ended 30^th June 2022.

 

Quarter ended 30^th June 2022

 

•        Gross Revenue grew 4.5% QoQ and 26.8% YoY on a reported basis to INR 33.9 billion (USD 436 million) and grew 2.0% QoQ and 22.1% YoY in Constant Currency

•        Direct revenue grew 5.0% QoQ and 33.3% YoY on a reported basis to INR 31.7 billion (USD 408 million) and grew 2.4% QoQ and 28.3% YoY in Constant Currency

•        New TCV wins of USD 302 million in Direct, of which 84% in new generation services

•        Net profit grew 2.5% QoQ and 18.3% YoY to ₹ 4,019 million. Adjusted for the M&A charges, net profit grew 24.0% YoY to ₹ 4,213 million

•        EPS grew 2.4% QoQ and 17.8% YoY to ₹ 21.4. Adjusted for the M&A charges, EPS grew 23.4% YoY to ₹ 22.4.

 

“Our consistent growth is a testimony of continued investments in the right service areas and institutionalization of our Tribes & Squads led competency model. We continue to stay focused on navigating the current environment with agility, driving growth for the business, while providing margin stability,” said Nitin Rakesh, Chief Executive Officer, and Managing Director, Mphasis.

 

Deal wins:

·         A leading technology services provider has engaged Mphasis for transforming their contact centers across US, UK, Romania, China, and India, thereby optimizing cost of operations over time

·         Mphasis has partnered with a leading financial services firm to transform their indexing and analytics offerings into an integrated go-to market technology platform that is fit for purpose and built for scale

·         A leading IT solutions provider has engaged Mphasis to create a competency center for the next gen capabilities to improve velocity of app development. As part of this, Mphasis will help setup a client University to ensure cultural, domain and technical alignment with the customer.

 

Recognitions and Analyst Positioning:

·         Awarded Gold Stevie ‘Most Exemplary Employer’ under the COVID-19 Response category by The 2022 American Business Awards

·         Recognized as ‘The Employer of the Future’ in 2022 Fortune India-Work Universe Annual Employers of the Future Study

·         Achieved ‘Preferred Solution Partner’ status in the Azure Quantum Network, Quantum assessment, consultancy, and solution development services on the Azure marketplace

·         Onboarded as select partner of VMware’s Tanzu Partner Advisory Council (TPAC) to define and build Tanzu’s product roadmap

·         Recognized as a ‘Major Contender’ in Everest Group Property and Casualty (P&C) Insurance BPS – Service Provider Landscape with Services PEAK Matrix® Assessment 2022

·         Recognised in Gartner ‘Cool Vendors in Quantum Computing’ report

·         Ranked ‘high’ in the twin-track assessment model – ‘Operational-Performative Alignment and Cultural-Attitudinal Alignment’ by Neo Group in their ESG Adoption Survey Report.