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Mphasis Records Consistent and Highest YoY Growth of 40.7% in Direct Business

“We have had a fourth straight strong quarter of 30%+ Direct growth in FY22.  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 

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Mphasis Limited (BSE – 526299; NSE – MPHASIS), an Information Technology (IT) solutions provider specializing in cloud and cognitive services, 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

SMEStreet Edit Desk

SMEStreet Edit Desk is a small group of excited and motivated journalists and editors who are committed to building MSME ecosystem through valuable information and knowledge spread.

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