IT Solutions

Mphasis wins a TCV of USD 241 million in Direct business

Gross revenue grew 17.4% YoY in Q2 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 second quarter ended 30th September 2021.

Quarter ended 30th September 2021

  • Gross Revenue grew 6.4% QoQ and 17.4% YoY on a reported basis. In Constant Currency, growth was 6.6% QoQ and 17.2% YoY.
  • New TCV wins of USD 241million in Q2 FY22 in Direct, of which 68% in new generation services.
  • Direct revenue grew 9.8% QoQ and 31.8% YoY on a reported basis. In Constant Currency, revenue grew 9.9% QoQ and 31.5% YoY.
  • Net profit grew 0.5% QoQ and 14.1% YoY to ₹ 3,415 million in Q2 FY22. Adjusted for the M&A charges Net profit grew 5.2% QoQ and 19.5% YoY to ₹ 3,574 million.
  • EPS grew 0.4% QoQ and 13.7% YoY to ₹ 18.23 in Q2 FY22. Adjusted for the M&A charges EPS grew 5.1% QoQ and 19.0% YoY to ₹ 19.09.

Our wallet-share gains in strategic accounts, as well as our accelerating success with new clients is evidence of our ability to continually expand the addressable market within our clients, going beyond traditional services. We believe that our broad-based success with clients positions us well for industry-leading growth in our Direct business for FY22.” said Nitin Rakesh, Chief Executive Officer and Managing Director, Mphasis

Deal wins:

  • Mphasis has entered into an agreement with one of the leading financial services firms to modernize its options clearing process and technology to enable scaling. Mphasis proactively provided a modernization point of view which was accepted by the client.
  • Mphasis was chosen as a strategic partner by a leading US bank to migrate several of its applications to the new data center, modernizing the applications as per the reference architecture.
  • Mphasis has partnered with a leading loyalty platform provider (new logo) on their digital transformation to create memorable experiences for their customers, merchants, and corporate partners.
  • One of the leading logistics providers, has selected Mphasis as a partner in its flagship program to modernize its applications and infrastructure by making core technologies more flexible and able to run at a lower cost.

Recognitions and Analyst Positioning:

  • Recognized as “Major Contender” in Everest Group IT Managed Security Services Providers 2021
  • Ranked 2nd in HFS Market Analysis – Banking and Financial Services Formidable Challengers report
  • Recognized as an Established Player in Novarica Life/Annuity/Benefits Policy Administration Systems 2021
  • Recognized as a “Major Contender” and “Star Performer” in Everest Group PEAK Matrix for Application and Digital Services in Global Banking Service Providers 2021
  • Recognized as an Established AI&ML Vendor in Novarica’ s Quantum Technology and Insurance Research Report 2021
  • Positioned as a Major Contender in Everest Group’s Property and Casualty (P&C) Insurance BPS PEAK Matrix Assessment 2021
  • Positioned as a Major Contender and Star Performer in Everest Group’s Capital Markets Operations – Services PEAK Matrix Assessment 2021
  • Recognized as a challenger in Gartner’s Magic Quadrant Life Insurance Policy Administration Systems, North America

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