Mphasis Q1 net up 3.9 pc to Rs 275.1 cr

The company's net profit stood at Rs 264.6 crore in the year-ago period, Mphasis said in a regulatory filing. Revenue from operations grew 10.9 per cent to Rs 2,288.2 crore in the reported quarter from Rs 2,062.5 crore in the year-ago period, it added. Direct international grew 19.8 per cent year-on-year (y-o-y) and 2.1 per cent sequentially on a reported basis.

IT firm Mphasis on Thursday reported a 3.9 per cent increase in consolidated net profit at Rs 275.1 crore in June 2020 quarter. The company's net profit stood at Rs 264.6 crore in the year-ago period, Mphasis said in a regulatory filing.

Revenue from operations grew 10.9 per cent to Rs 2,288.2 crore in the reported quarter from Rs 2,062.5 crore in the year-ago period, it added. The company said it has registered USD 259 million worth of total contract value (TCV) wins in direct international business, including a large deal of USD 105 million.

In addition to the first quarter's declared TCV wins, another new USD 216 million deal was signed in July 2020, Mphasis said in a statement. Direct international grew 19.8 per cent year-on-year (y-o-y) and 2.1 per cent sequentially on a reported basis. In constant currency, revenue grew 10.8 per cent y-o-y and declined 0.5 per cent quarter-on-quarter (q-o-q).

Direct core revenue grew 15.5 per cent y-o-y and 0.5 per cent sequentially on a reported basis. In constant currency, growth was 6.9 per cent on y-o-y basis, and declined 2.1 per cent on q-o-q basis. Mphasis' earnings per share (EPS) grew 3.8 per cent y-o-y to Rs 14.75.

"We have had our best quarter ever of deal wins; which, in the current environment, is a testament to the strength of our service offerings and the hard work of Mphasis teams. This sets us up nicely to keep Mphasis on the growth path this year and gain further market share," Mphasis Chief Executive Officer and Executive Director Nitin Rakesh said..