IT firm Mphasis on Friday said it expects HP/DXC to grow in-line with the market in FY20 after the company reported a marginal rise in its consolidated net profit at Rs 273.3 crore for the September quarter.
In an interview to CNBC-TV18, Nitin Rakesh, chief executive officer, said, "This is pretty much per our guidance over the last couple of quarters that we did call out for moderation on the annual growth rate. I think the last two years in a row, it has grown at almost high teens. So, I think it is natural to expect that it will not be fair to expect the growth rate to stay at those elevated levels. So, this is a very conscious, strategic choice to distribute a little bit more of our growth efforts across the direct business."
On the BFSI business, Rakesh said, "I am very happy to note that the banking in capital markets continues to be a fairly healthy growing business. It is still doing double-digit on a year-on-year (YoY) basis. If you look at our peer set, this is industry-leading growth in the banking segment."
On the margin front, V Suryanarayanan, chief financial officer, said, "We have been taking a lot of measures on the operational side and that has helped along with the positive on the head side for the margins to improve in this quarter."