MPhasis Ltd Q1 Results FY2023, PAT at Rs. 4019 million

On 21st July 2022, Mphasis, an Information Technology (IT) solutions provider specializing in cloud and cognitive services announced its quarterly results for the first quarter of FY2023.

Q1FY23 Key Highlights:

- Gross Revenue grew 4.5% QoQ and 26.8% YoY on a reported basis to Rs. 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 Rs. 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 Rs. 4,019 million. Adjusted for the M&A charges, net profit grew 24.0% YoY to Rs. 4,213 million 

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

Deal Wins:

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

- Mphasis has partnered with a leading financial services firm to transform its 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 the velocity of app development. As part of this, Mphasis will help set up a client University to ensure cultural, domain, and technical alignment with the customer. 

“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.