Mphasis gains after Q3 PAT rises 4.75% QoQ to Rs 358 cr

21 Jan 2022 , 09:53 AM

Net profit grew 9.9% YoY in Q3 FY22. Adjusted for the M&A charges, net profit grew 6.4% QoQ and 16.8% YoY to Rs 380.2 crore.

Gross Revenue grew 8.8% QoQ and 25.8% YoY on a reported basis and 7.8% QoQ and 24.2% YoY in constant currency terms. Direct revenue grew 10.0% QoQ and 37.9% YoY on a reported basis and 9.0% QoQ and 36.1% YoY in constant currency terms.

The company reported new Total Contract Value (TCV) wins of $335 million in Q3 FY22 in Direct.

We have had a third consecutive quarter of strong revenue growth in FY22. 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. said Nitin Rakesh, chief executive officer and managing director, Mphasis.

Mphasis is an Information Technology (IT) solutions provider specializing in cloud and cognitive services.

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