Mphasis

21 Jan 2022 , 11:31 AM

Net sales (including other operating income) of Mphasis has increased 8.87% to Rs 3123.72 crore.  

Operating profit margin has jumped from 17.36% to 17.71%, leading to 11.07% rise in operating profit to Rs 553.12 crore.  Employee cost increased from 58.50% to 58.90%.   Other expenses fell from 24.14% to 23.39%.   

Other income fell 30.25% to Rs 30.65 crore.  PBIDT rose 7.72% to Rs 562.15 crore.  Provision for interest rose 32.88% to Rs 21.62 crore.  

PBDT rose 6.94% to Rs 562.15 crore.  Provision for depreciation rose 25.12% to Rs 82.58 crore.  

Profit before tax grew 4.33% to Rs 479.57 crore.  Share of profit/loss were nil in both the periods.  Provision for tax was expense of Rs 121.89 crore, compared to Rs 118.21 crore.  Effective tax rate was 25.42% compared to 25.72%.

Minority interest was nil in both the periods.  Net profit attributable to owners of the company increased 4.75% to Rs 357.68 crore.  

Promoters stake was 55.90% as of 31 December 2021 ,compared to 55.95% as of 30 September 2021 .  

Quarter ended Dec 2021 compared with Quarter ended Dec 2020.

Net sales (including other operating income) of Mphasis has increased 26.24% to Rs 3123.72 crore.  Sales of Information Technology,Communication and Entertainment segment has gone up 28.88% to Rs 407.91 crore .  Sales of Banking and Financial Service segment has gone up 30.48% to Rs 1,711.54 crore.  Sales of Insurance segment has gone up 14.18% to Rs 272.46 crore.  Sales of Logistics and Transportation segment has gone up 26.14% to Rs 392.21 crore.  Sales of Others segment has gone up 10.27% to Rs 311.40 crore.  

Profit before interest, tax and other unallocable items (PBIT) has jumped 18.79% to Rs 838.56 crore.  PBIT of Information Technology,Communication and Entertainment segment rose 19.20% to Rs 90.66 crore.  PBIT of Banking and Financial Service segment rose 33.78% to Rs 431.70 crore.  PBIT of Insurance segment fell 18.40% to Rs 66.84 crore.  PBIT of Logistics and Transportation segment rose 4.93% to Rs 135.46 crore.  PBIT of Others segment rose 18.48% to Rs 113.91 crore.  

PBIT margin of Information Technology,Communication and Entertainment segment fell from 24.03% to 22.22%.  PBIT margin of Banking and Financial Service segment rose from 24.60% to 25.22%.  PBIT margin of Insurance segment fell from 34.33% to 24.53%.  PBIT margin of Logistics and Transportation segment fell from 41.52% to 34.54%.  PBIT margin of Others segment rose from 34.04% to 36.58%.  Overall PBIT margin fell from 28.69% to 27.09%.  

Operating profit margin has declined from 18.81% to 17.71%, leading to 18.82% rise in operating profit to Rs 553.12 crore.  Employee cost increased from 58.11% to 58.90%.  Other expenses rose from 23.08% to 23.39%.   

Other income fell 16.17% to Rs 30.65 crore.  PBIDT rose 16.27% to Rs 583.77 crore.  Provision for interest rose 46.08% to Rs 21.62 crore.  

PBDT rose 15.36% to Rs 562.15 crore.  Provision for depreciation rose 36.09% to Rs 82.58 crore.  

Profit before tax grew 12.42% to Rs 479.57 crore.  Share of profit/loss were nil in both the periods.  Provision for tax was expense of Rs 121.89 crore, compared to Rs 101.07 crore.  Effective tax rate was 25.42% compared to 23.69%.

Minority interest was nil in both the periods.  Net profit attributable to owners of the company increased 9.88% to Rs 357.68 crore.  

Promoters stake was 55.90% as of 31 December 2021 ,compared to 56.12% as of 31 December 2020 .  

For year-to-date (YTD) results analysis.

Net sales (including other operating income) of Mphasis has increased 20.64% to Rs 8683.78 crore.  Sales of Information Technology,Communication and Entertainment segment has gone up 23.27% to Rs 1,144.31 crore.  Sales of Banking and Capital Market segment has gone up 24.25% to Rs 4,635.32 crore .  Sales of Insurance segment has gone up 9.82% to Rs 767.33 crore.  Sales of Logistics and Transportation segment has gone up 22.18% to Rs 1,139.04 crore.  Sales of Others segment has gone up 3.64% to Rs 930.36 crore.  

Profit before interest, tax and other unallocable items (PBIT) has jumped 13.75% to Rs 2,292.49 crore.  PBIT of Information Technology,Communication and Entertainment segment rose 9.08% to Rs 210.32 crore .  PBIT of Banking and Capital Market segment rose 19.25% to Rs 1,100.59 crore .  PBIT of Insurance segment fell 6.61% to Rs 207.50 crore.  PBIT of Logistics and Transportation segment rose 19.85% to Rs 437.64 crore.  PBIT of Others segment rose 7.77% to Rs 336.44 crore.  

PBIT margin of Information Technology,Communication and Entertainment segment fell from 20.77% to 18.38%.  PBIT margin of Banking and Capital Market segment fell from 24.74% to 23.74%.  PBIT margin of Insurance segment fell from 31.80% to 27.04%.  PBIT margin of Logistics and Transportation segment fell from 39.17% to 38.42%.  PBIT margin of Others segment rose from 34.78% to 36.16%.  Overall PBIT margin fell from 28.04% to 26.61%.  

Operating profit margin has declined from 18.56% to 17.74%, leading to 15.32% rise in operating profit to Rs 1,540.44 crore.  Employee cost increased from 58.01% to 58.53%.  Other expenses rose from 23.43% to 23.73%.   

Other income rose 20.88% to Rs 121.3 crore.  PBIDT rose 15.71% to Rs 1661.74 crore.  Provision for interest rose 9.28% to Rs 53.56 crore.  

PBDT rose 15.94% to Rs 1608.18 crore.  Provision for depreciation rose 17.10% to Rs 210.9 crore.  

Profit before tax grew 15.77% to Rs 1,397.28 crore.  Share of profit/loss were nil in both the periods.  Provision for tax was expense of Rs 358.46 crore, compared to Rs 307.11 crore.  Effective tax rate was 25.65% compared to 25.44%.

Minority interest was nil in both the periods.  Net profit attributable to owners of the company increased 15.44% to Rs 1,038.82 crore.  

Promoters stake was 55.90% as of 31 December 2021 ,compared to 56.12% as of 31 December 2020 .  

Management Commentary:

Commenting on the performance of the company Mr Nitin Rakesh, Chief Executive Officer and Executive Director, Mphasis said: We have had a third consecutive quarter of strong revenue growth in FY2022. We have also undertaken multiple expansion initiatives in areas of geography, leadership, digital competencies, New Client Acquisition (NCA), and Environmental, Social and Governance(ESG). The recent shifts in global megatrends driving increase in global tech spending, the additional discretionary spending opportunities from a OpEx-driven tech investment model as well as growth in non-traditional tech spend, are opportunities for us to sustain our growth momentum.

Mphasis : Consolidated Financial Results

 

	2112 (3)	2109 (3)	Var. (%)	2012 (3)	Var. (%)	2112 (9)	2012 (9)	Var. (%)	2103 (12)	2003 (12)	Var. (%)
Sales	3123.72	2869.23	8.9	2474.39	26.2	8683.78	7198.03	20.6	9722.31	8843.54	10
OPM (%)	17.71	17.36	35 bps	18.81	(110) bps	17.74	18.56	(82) bps	18.5	18.7
OP	553.13	497.99	11.1	465.51	18.8	1540.44	1335.74	15.3	1802.87	1650.38	9
Other inc.	30.65	43.94	-30.2	36.56	-16.2	121.30	100.35	20.9	132.95	177.82	-25
PBIDT	583.78	541.93	7.7	502.07	16.3	1661.74	1436.09	15.7	1935.81	1828.20	6
Interest	21.62	16.27	32.9	14.80	46.1	53.56	49.01	9.3	63.42	81.19	-22
PBDT	562.15	525.66	6.9	487.27	15.4	1608.18	1387.08	15.9	1872.40	1747.01	7
Dep.	82.58	66.00	25.1	60.68	36.1	210.90	180.10	17.1	241.79	231.63	4
PBT	479.57	459.66	4.3	426.60	12.4	1397.28	1206.98	15.8	1630.61	1515.38	8
Tax	121.89	118.21	3.1	101.07	20.6	358.46	307.11	16.7	413.80	330.54	25
PAT	357.68	341.46	4.8	325.53	9.9	1038.82	899.87	15.4	1216.81	1184.84	3
EPS (Rs)*	76.3	72.8		69.4		73.9	64.0		65.0	63.5
* On current Paid up equity capital of Rs 187.52 crore, Face value Re 10 Figures in crore EO: Extraordinary items EPS is adjusted after EO and relevant tax Source: Capitaline Databases

?Mphasis: Consolidated Segment results

 

	Quarter ended	Nine Months Ended	Year ended
	% of (Total)	2112 (3)	2109(3)	Var.(%)	20123)	Var.(%)	% of (Total)	2112 (9)	2012(9)	Var.(%)	% of (Total)	202103	202003	Var.(%)
Sales
Banking and Financial Services	54.79%	1711.54	1553.23	10.19%	1311.69	30.48%	53.38%	4635.32	3730.65	24.25%	51.28%	4986.07	4008.50	24.39%
Logistics and Transportation	12.56%	392.21	372.47	5.30%	310.93	26.14%	13.12%	1139.04	932.30	22.18%	13.04%	1268.15	1213.14	4.53%
Technology, Media and Telecom	13.06%	407.92	356.29	14.49%	316.50	28.89%	13.18%	1144.31	928.32	23.27%	13.29%	1292.50	1397.12	-7.49%
Insurance	8.72%	272.46	250.29	8.86%	238.62	14.18%	8.84%	767.33	698.71	9.82%	-	950.89	1005.14	-5.40%
Others	9.97%	311.40	313.68	-0.73%	282.40	10.27%	10.71%	930.36	897.66	3.64%	12.29%	1194.44	1199.92	-0.46%
Unallocated Hedge	0.90%	28.19	23.26	21.16%	14.24	97.97%	0.78%	67.42	10.39	549.06%	0.31%	30.27	19.71	53.58%
Total Reported Sales	100.00%	3123.72	2869.23	8.87%	2474.39	26.24%	100.00%	8683.78	7198.03	20.64%	100.00%	9722.31	8843.54	9.94%
PBIT
Banking and Financial Services	49.81%	431.70	359.14	20.20%	322.68	33.78%	46.64%	1100.59	922.96	19.25%	44.20%	1220.36	1053.68	15.82%
Logistics and Transportation	15.63%	135.46	146.04	-7.25%	129.10	4.93%	18.54%	437.64	365.16	19.85%	18.55%	512.19	441.61	15.98%
Technology, Media and Telecom	10.46%	90.66	68.98	31.42%	76.06	19.20%	8.91%	210.32	192.81	9.08%	9.52%	262.91	303.37	-13.34%
Insurance	7.71%	66.84	67.44	-0.89%	81.92	-18.40%	8.79%	207.50	222.19	-6.61%	11.33%	312.91	288.50	8.46%
Others	13.14%	113.91	111.80	1.88%	96.14	18.48%	14.26%	336.44	312.17	7.77%	15.31%	422.63	386.23	9.42%
Unallocated Hedge	3.25%	28.19	23.26	21.16%	142.37	-80.20%	2.86%	67.42	10.39	549.06%	1.10%	30.27	19.71	53.58%
Total PBIT	100.00%	866.74	776.67	11.60%	848.26	2.18%	100.00%	2359.91	2025.68	16.50%	100.00%	2761.26	2493.11	10.76%
Less : Finance Cost		21.62	16.27	32.94%	14.80	46.11%		31.94	49.01	-34.84%	2.30%	63.42	81.19	-21.90%
Other Income		30.65	43.94	-30.25%	36.56	-16.18%		90.65	100.35	-9.67%	4.81%	132.95	177.82	-25.24%
Less: Other unallocable expenditure		396.20	344.68	14.95%	315.29	25.66%		634.17	870.04	-27.11%	0.434651	1200.19	1074.35	11.71%
PBT		479.57	459.66	4.33%	554.73	-13.55%		1784.46	1206.98	47.84%	59.05%	1630.61	1515.38	7.60%

Powered by Capital Market - Live News