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Mphasis Q2 net up 9.4% to Rs 299 cr

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Mphasis Q2 net up 9.4% to Rs 299 cr

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The company said it has registered USD 360 million worth of total contract value (TCV) wins in direct international business, of which 73 percent was in new-generation services.

Mphasis Q2 net up 9.4% to Rs 299 cr
IT firm Mphasis on Thursday reported a 9.4 percent increase in consolidated net profit to Rs 299.2 crore for the September 2020 quarter. The company’s net profit stood at Rs 273.3 crore in the year-ago period, it said in a regulatory filing. Revenue from operations grew 12.8 percent to Rs 2,435.4 crore in the reported quarter from Rs 2,158.1 crore in the year-ago period.
The company said it has registered USD 360 million worth of total contract value (TCV) wins in direct international business, of which 73 percent was in new-generation services. Direct revenue grew 9.7 percent quarter-on-quarter and 25.2 percent year-on-year on a reported basis. In constant currency terms, revenue grew 10.9 percent q-o-q and 18.4 percent y-o-y.
Mphasis’ earnings per share (EPS) grew 9.3 percent y-o-y to Rs 16.04. ”We are pleased with achieving the highest-ever TCV wins for the quarter, as the nature of deals is transformation lead; requiring multiple capabilities and competencies to come together.
”The investments we made in our tribes and squads model are driving growth and differentiation,” Mphasis Chief Executive Officer and Executive Director Nitin Rakesh said.
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