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Gross revenue grew 25.8% YoY in Q3 2022

Gross revenue grew 25.8% YoY in Q3 2022 1

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 quarter ended 31st December 2021.

Quarter ended 31st December 2021

•        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

•        New TCV wins of USD 335 million in Q3 FY22 in Direct

o Four large deals signed in Q3 FY22, with largest deal being $92 million

•        Net profit grew 4.8% QoQ and 9.9% YoY to ₹ 3,577 million in Q3 FY22. Adjusted for the M&A charges, net

profit grew 6.4% QoQ and 16.8% YoY to ₹ 3,802 million

•        EPS grew 4.7% QoQ and 9.5% YoY to ₹ 19.1 in Q3 FY22. Adjusted for the M&A charges EPS grew 6.3% QoQ and 16.4% YoY to ₹ 20.3.

“We have had a third consecutive quarter of strong revenue growth in FY 22. 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

Deal wins:

•        Mphasis won a large Service Transformation deal with a new client in healthcare segment. Mphasis will build a modem claims platform and help reduce tech debt, using Mphasis accelerators and automation suite to reduce end customer conversion lead times

•        Mphasis has been chosen as a strategic partner by one of the leading US banks to help with their Risk platforms modernization, Acceleration of public cloud adoption (AWS), and Data center migration of their applications in various portfolios

•        One of the leading US banks has chosen Mphasis as a strategic partner to accelerate their QA transformation program and to modernize their move money/payment applications.

Recognitions and Analyst Positioning:

·         Featured in ISG Top 15 Breakout Global Sourcing Standout Q3 21 Index

·         Featured in Now Tech: Robotic Process Automation Services, Q4 2021

·         Profiled in Celent Policy Administration Systems: EMEA Life Insurance Edition

·         Recognized as a  Major Contender and Star Performer in Everest Group’s Blockchain Services 2022

·         Recognized as a Major Contender in Everest Group’s Insurance Platform IT Services PEAK Matrix Assessment 2022

·         Recognized as a Major Contender in Everest Group’s Cloud Services NA PEAK Matrix Assessment 2022

·         Recognized as a Major Contender in Digital Experience Platforms (DXP) in Insurance Industry Products PEAK Matrix

·         Recognized as a Major Contender in Everest Group’s Banking Operations Services Peak Matrix Assessment 2022  


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