Mphasis Announces Its Financial Results For The Quarter Ended 31st December 2020, Gross Revenue Grew 1.5% QoQ

Mumbai, 21January 2021: Mphasis Limited (BSE – 526299; NSE – MPHASIS), an Information Technology (IT) solutions provider specializing in cloud and cognitive services, today announced its financial results for the quarterended 31st December2020.

Quarter ended 31st December 2020.

  • Gross Revenue grew 1.5% QoQ and 8.4% YoY on a reported basis. In constant currency, growth was 1.6% QoQ and 4.3% YoY.
  • New TCV wins of USD 247 million in Q3 FY21 in Direct;of which 71% in new generation services. FYTD TCV wins of USD 867 million; YoY growth of 64.0%.
  • Direct revenue grew 5.1% QoQ and 23.7% YoY on a reported basis. In constant currency, revenue grew 5.3% QoQ and 19.0% YoY.
  • DXC revenue declined 17.9% QoQ and 39.2% YoY on a reported basis.In Constant Currency, revenue declined 18.2% QoQ and 42.2% YoY.
  • Net profit grew10.9% YoY to INR 3,255 million; EPS grew10.7% YoY toINR 17.44.

“We are pleased with the results in a seasonally weak quarter and remain enthusiastic about our pipeline. As a client centric organization, we continue to stay obsessed with each customer's individual agenda.We are focused on staying consistent with our performance while continuing to keep our clients’ transformation needs at the center of our strategy and execution,” saidNitin Rakesh, Chief Executive Officer and Executive Director, Mphasis.

Deal wins:

  • A leading insurer in the EU has partnered with Mphasis in a program that aims to grow the back- office and frontstage operations and leverage technology to transform how it engages with clients, colleagues, carriers,and regulators. It will create a digital &data strategy for the advisory business across the client's multiple brands.
  • A leading Insurance & Benefits Management group has engaged with Mphasis for its Heath and Voluntary benefits focused on consumer business division. Mphasis will help modernize their complex legacy platform, reduce total cost of ownership and improve overall customer experience.
  • A leading logistics client has engaged Mphasis to provide managed maintenance and development services for multiple applications (mix of legacy and modern tech) critical to higher shipment volumes experienced by its LOB in recent months.

Recognitions and Analyst Positioning:

  • Granted U.S. Patent for its Autocode.AI – Software Code Development Automation Solution
  • Awarded AWS Travel & Hospitality Competency Status
  • Recognized as a Leader in NelsonHall’s Cloud Infrastructure Brokerage, Orchestration and Management Services Market
  • Recognized as a Leader in ISG Amazon Web Services (AWS) Ecosystems 2020
  • Recognized as Disruptor in Avasant's Hybrid Enterprise Cloud Services 2020 RadarView
  • Positioned as a Challenger in Avasant's Digital CX and CRM Services 2020 RadarView
  • Positioned as a Challenger in Avasant's Intelligent Automation Services 2020 RadarView
  • Positioned as a Leader in ISG's Next-gen Application Development & Maintenance (ADM) Services 2020 

About Mphasis

Mphasis(BSE: 526299; NSE: MPHASIS) applies next-generation technology to help enterprises transform businesses globally. Customer centricity is foundational to Mphasis and is reflected in the Mphasis’ Front2Back™ Transformation approach. Front2Back™ uses the exponential power of cloud and cognitive to provide hyper-personalized (C=X2C2 TM=1) digital experience to clients and their end customers. Mphasis’ Service Transformation approach helps ‘shrink the core’ through the application of digital technologies across legacy environments within an enterprise, enabling businesses to stay ahead in a changing world. Mphasis’ core reference architectures and tools, speed and innovation with domain expertise and specialization are key to building strong relationships with marquee clients. Click here to know more.

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