Technology

Mphasis records consistent and highest YoY growth of 40.7% in Direct business

Mphasis records consistent and highest YoY growth of 40.7% in Direct business
Mphasis records consistent and highest YoY growth of 40.7% in Direct business

Gross revenue grew 29.6% YoY in Q4 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 31st March 2022 and financial year 2021-22.

Quarter ended 31st March 2022

  • Gross Revenue grew 4.8% QoQ and 29.6% YoY on reported basis to INR 32.4 billion (USD 431 million) in Q4 FY22 and grew 4.3% QoQ and 26.8% YoY in Constant Currency.
  • Direct revenue grew 5.2% QoQ and 40.7% YoY on a reported basis to INR 30.2 billion (USD 401 million) in Q4 FY22 and grew 4.7% QoQ and 37.6% YoY in Constant Currency.
  • New TCV wins of USD 347 million in Q4 FY22 in Direct.
  • Net profit grew 9.6% QoQ and 23.7% YoY to INR 3,921 million in Q4 FY22. Adjusted for the M&A charges Net profit grew 9.1% QoQ and 30.9% YoY to INR 4,147 million.
  • EPS grew 9.4% QoQ and 23.2% YoY to INR 20.9 in Q4 FY22. Adjusted for the M&A charges EPS grew 8.9% QoQ and 30.3% YoY to INR 22.1.

Year ended 31st March 2022

  • FY22 revenue grew 22.4% YoY on reported basis and 21.2% in Constant Currency to INR 118.6 billion (USD 1.59 billion).
  • Direct revenue grew 35.7% YoY on reported basis and 34.4% in Constant Currency to INR 108.9 billion (USD 1.46 billion).
  • New TCV wins of USD 1.43 billion in FY22 in Direct; Growth of 28.5%.
  • Net profit grew 17.6% to INR 14,309 million in FY22. Adjusted for the M&A charges, Net profit grew 22.6% to INR 14,920 million.
  • EPS grew 17.2% to INR 76.4 in FY22. Adjusted for the M&A charges, EPS grew 22.2% to INR 79.6.
  • Mphasis Board of Directors recommended a dividend of INR 46 per share for FY22, subject to shareholder approval.

“We have had a fourth straight strong quarter of 30%+ Direct growth in FY22. We continue to stay optimistic on the current demand environment, while we are keeping an eye on macro and geopolitical headwinds. Consistent and broad-based growth continue to be our mantra, as we prioritize growth and stability.” said Nitin Rakesh, Chief Executive Officer, and Managing Director, Mphasis

Deal wins:

  • Mphasis won a deal from one of the leading insurance brokers in the UK, to accelerate cloud adoption for their IT operations and migrate current entities to cloud environment
  • One of the leading providers of benefits administration and cloud-based HR and finance solutions partnered with Mphasis to extend infrastructure support, service desk support and desk side support services for one of its recent acquisitions.
  • NewCo in asset management business chose Mphasis as a strategic partner for a three-year managed services engagement. This comes after a prior engagement to design and deploy end-to-end digital workplace solution comprising of end user computing, network, and security for global users.

Recognitions and Analyst Positioning:

  • Mphasis ranked 2nd in HFS Market Analysis: Application Modernization Services Formidable Challengers
  • Mphasis positioned as a Leader in ISG’s Mainframe Modernization Solutions and Services 2022 Provider Lens™ Report
  • Recognized as Top Leader & Star Performer and Ranked 14 in the ITS Top 20 list, in Everest Peak Matrix® IT Service Provider of the Year™ 2022
  • Recognized as Star Performer & Major Contender in Everest Group’s:
  • Digital Interactive Experience (IX) Services PEAK Matrix® Assessment 2022
  • Artificial Intelligence (AI) Services PEAK Matrix® Assessment 2022
  • Recognized as Major Contender in Everest Group’s:
  • Digital Experience Platforms (DXP) in Insurance Industry Products PEAK Matrix® Assessment 2022
  • Healthcare Payer Operations PEAK Matrix® Assessment 2022
  • Mortgage Operations PEAK Matrix® Assessment 2022
  • Digital Product Engineering Services PEAK Matrix® Assessment 2022
  • Intelligent Process Automation (IPA) Solutions PEAK Matrix® Assessment 2022

About Mphasis

Mphasis’ purpose is to be the “Driver in Driverless Car” for Global Enterprises by applying next-generation design, architecture, and engineering services, to deliver scalable and sustainable software and technology solutions. Customer centricity is foundational to Mphasis, and is reflected in the Mphasis’Front2Back™ Transformation approach. Front2Back™ uses the exponential power of cloud and cognitive to provide hyper-personalized (C=X2C2TM=1) digital experience to clients and their end customers. Mphasis’ Service Transformation approach helps ‘shrink the core’ through the application of digital technologies across legacy environments within an enterprise, enabling businesses to stay ahead in a changing world. Mphasis’ core reference architectures and tools, speed and innovation with domain expertise and specialization, combined with an integrated sustainability and purpose-led approach across its operations and solutions are key to building strong relationships with marquee clients. Click hereto know more. (BSE: 526299; NSE: MPHASIS)

This article was shared with Prittle Prattle News as a Press Release.
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