Mphasis Achieves Record Growth with Robust BFSI Performance

Mphasis reported a robust 13.6% increase in net profit, reaching Rs 446.5 crore in Q1 FY25, driven by significant revenue growth in the BFSI sector. The company achieved its highest quarterly growth in 12 quarters, continuing to prioritize tech investments and deal wins amid uncertain economic conditions.

IT company Mphasis announced a 13.6% rise in net profit, totaling Rs 446.5 crore in the January-March quarter of FY25. This growth was propelled by higher margins and enhanced revenue from the Banking, Financial Services, and Insurance (BFSI) segment.

During the same period last year, Mphasis had reported a net profit of Rs 393.21 crore, as per its regulatory filing. 'We are delighted with our broad-based performance this quarter, showcasing the highest quarter-on-quarter growth in 12 quarters and impressive TCV wins,' stated Nitin Rakesh, CEO of Mphasis.

The company reported an 8.7% rise in revenue from operations, totaling Rs 3,710 crore. Mphasis recorded a significant increase in total contract value of new wins, doubling to USD 390 million over the year. The BFSI segment, a major revenue source, saw an 11% growth, confirming the company's strategic focus on tech and AI innovations.

(With inputs from agencies.)