Bengaluru, July 22
IT solutions provider, Mphasis has reported a 26.8 per cent year-on-year (YoY) growth in gross revenue at Rs ₹3,390 crore for the quarter-ended June 30, 2022.
Further, on a sequential basis, the gross revenue grew by 4.5 per cent. In constant currency terms, gross revenue grew by 22.1 per cent YoY and 2 per cent quarter-on-quarter (QoQ). The direct revenue of the IT firm registered a growth of 5 per cent QoQ and 33 per cent YoY on a reported basis and 2.4 per cent QoQ and 28.3 per cent YoY, in constant currency terms.
The net profit for the quarter grew by 2.5 per cent QoQ and 18.3 per cent YoY to ₹ 401.90 crore. Adjusted for the M&A charges, net profit grew 24 per cent YoY to ₹421.30 crore.
Nitin Rakesh, Chief Executive Officer and Managing Director, told BusinessLine “The demand is still good despite all the macro headwinds, our pipeline is up by 6 per cent QoQ. However, we do see caution in some of the segments.” Mphasis continues to stay focused on navigating the current environment with agility, driving growth for the business, while providing margin stability, he added.
EPS in Q1
The earnings per share (EPS) grew 2.4 per cent QoQ and 17.8 per cent YoY to ₹21.4 in the first quarter. Adjusted for the M&A charges EPS grew 23.4 per cent YoY to ₹22.4. During Q1, the company reported new total contract value (TCV) orders of $302 million in direct, of which 84 per cent in new generation services
Manish Dugar, Chief Financial Officer, said, “Despite making investments to create supply capability, we have maintained the margins in a narrow band and been able to deliver an expansion QoQ. We are fairly confident in our positions and will be able to maintain the range.”
July 22, 2022