An IT solutions provider, Mphasis recorded a 25.8% year-over-year (year-on-year) growth in gross revenue during the quarter ended December 31, 2021.
Additionally, on a quarterly basis, gross revenue increased 8.8% quarter-on-quarter. In constant currency terms, gross revenue increased 7.8% year-over-year and 24.2% year-over-year. IT business direct revenue grew 10% (qoq) and 37.9% YoY on a reported basis and 9.0% QoQ and 36.1% YoY, in terms of constant currency.
Q3 FY22 net profit increased 4.8% QoQ and 9.9% YoY to ₹3,577m. Adjusted for M&A charges, net profit rose 6.4% YoY and 16.8% YoY to ₹3,802m.
“We experienced a third consecutive quarter of strong revenue growth in FY22. We also undertook multiple expansion initiatives in the areas of geography, leadership, digital skills, acquisition of new customers (NCA) and environment, social and governance (ESG). Recent shifts in global megatrends driving increased global technology spending, additional discretionary spending opportunities from an OpEx-driven technology investment model as well as growth in non-traditional technology spending, are opportunities for us to maintain our growth momentum,” Nitin said. Rakesh, Chief Executive Officer and Managing Director, Mphasis.
Earnings per share (EPS) rose 4.7% (qoq) and 9.5% year-on-year to ₹19.1 in the third quarter. Adjusted for M&A charges, EPS increased 6.3% YoY and 16.4% YoY to ₹20.3. During the third quarter, the company announced new total contract value (TCV) earnings of $335 million live. Mphasis signed four major deals during Q3FY22, with the biggest deal being $92 million.
January 21, 2022