Mphasis Q2 net up 9.4% to Rs 299 cr

IT firm Mphasis on Thursday reported a 9.4 percent increase in consolidated net profit to Rs 299.2 crore for the September 2020 quarter. The company’s net profit stood at Rs 273.3 crore in the year-ago period, it said in a regulatory filing. Revenue from operations grew 12.8 percent to Rs 2,435.4 crore in the reported quarter from Rs 2,158.1 crore in the year-ago period.

The company said it has registered USD 360 million worth of total contract value (TCV) wins in direct international business, of which 73 percent was in new-generation services. Direct revenue grew 9.7 percent quarter-on-quarter and 25.2 percent year-on-year on a reported basis. In constant currency terms, revenue grew 10.9 percent q-o-q and 18.4 percent y-o-y.

Mphasis’ earnings per share (EPS) grew 9.3 percent y-o-y to Rs 16.04. ”We are pleased with achieving the highest-ever TCV wins for the quarter, as the nature of deals is transformation lead; requiring multiple capabilities and competencies to come together.