Mphasis surged 7.77% to Rs 2,583 after the IT firm reported a 7.17% jump in consolidated net profit to Rs 339.68 crore in Q1 June 2021 (Q1 FY22) over Rs 316.93 crore in Q4 March 2021 (Q4 FY21).
Consolidated revenue from operations grew 6.59% to Rs 2,690.83 crore in Q1 June 2021 from Rs 2,524.28 crore in Q4 March 2021. Profit before tax climbed 8.12% to Rs 458.05 crore in Q1 FY22 as against Rs 423.62 crore in Q4 FY21. The Q1 result was declared after trading hours yesterday, 22 July 2021.
Mphasis' consolidated net profit surged 23.5% to Rs 339.68 crore on a 17.6% increase in net sales to Rs 2,690.83 crore in Q1 June 2021 (Q1 FY22) over Q1 June 2020 (Q1 FY21).
The gross revenue grew 6.8% Q-o-Q (quarter-on-quarter) and 16.1% Y-o-Y (year-on-year) on a reported basis. In constant currency, growth was 5.9% Q-o-Q and 16.3% Y-o-Y. New TCV (Total Contract Value) wins amounted to $505 million in Q1 FY22 in direct, of which 85% in new generation services.
Direct revenue grew 10.8% Q-o-Q and 31.7% Y-o-Y on a reported basis. In constant currency, revenue grew 9.8% Q-o-Q and 32.5% Y-o-Y. DXC revenue declined 17.7% Q-o-Q and 46.6% Y-o-Y on a reported basis. In constant currency, revenue declined 18.1% Q-o-Q and 48.7% Y-o-Y.
Nitin Rakesh, the chief executive officer (CEO) and executive director (ED) of Mphasis, has stated that: "We have had a great start to FY22 with record deal wins of $505 million in our direct business, the highest ever in the history of Mphasis. We are focused on staying consistent with our performance while continuing to keep our clients' transformation needs at the center of our strategy and execution. The investments we have made in our business model over the years have been driving growth and differentiation for us and our financial performance for the quarter is the result of it."
Mphasis applies next-generation technology to help enterprises transform businesses globally. The scrip hit an all time high at Rs 2,692.35 during intraday trade.
Powered by Capital Market - Live News
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
RECOMMENDED FOR YOU