Mphasis records 40.7% growth in direct business in Q4
Premium- Mphasis’ net profit grew 23.7% from a year ago to ₹392.1 crore in Q4 FY22
Mphasis Ltd’s direct revenue grew 5.2% sequentially and 40.7% annually on a reported basis to $401 million in the fourth quarter ended March. It won new deals worth a total contract value of $347 million in the March quarter in direct business.
The company’s net profit grew 23.7% from a year ago to ₹392.1 crore in Q4 FY22. Adjusted for the mergers and acquisition charges, net profit grew 30.9% from a year ago to ₹414.7 crore.
For FY22, revenue grew 21.2% in constant currency from a year ago to $1.59 billion. The direct revenue grew 34.4% in constant currency to $1.46 billion. It won new deals worth a TCV $1.43 billion in FY22 in direct business.
“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.
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“Mphasis Q4 performance was in-line with consensus estimates...impressive 5 large deal wins in Q4 and 12 in FY22, highest ever," said Aditi Patil, research analyst at Prabhudas Lilladher.