Mphasis Q2 FY22 PAT rises marginally Q-o-Q to Rs 341 cr

Mphasis' consolidated net profit rose 0.52% to Rs 341.45 crore on a 6.62% increase in revenue from operations to Rs 2,869.22 crore in Q2 FY22 over Q1 FY22.

On a consolidated basis, Mphasis' net profit jumped 14.11% to Rs 341.45 crore on a 17.81% surge in revenue from operations to Rs 2,869.22 crore in Q2 September 2021 over Q2 September 2020.

Gross revenue grew 6.4% Q-o-Q (quarter-on-quarter) and 17.4% Y-o-Y (year-on-year) on a reported basis. In constant currency, growth was 6.6% Q-o-Q and 17.2% Y-o-Y. Adjusted for the M&A charges, net profit grew 5.2% Q-o-Q and 19.5% Y-o-Y to Rs 357.40 crore during the quarter.

The new Total Contract Value (TCV) wins was worth $241 million in Q2 FY22 in direct, of which 68% was from new generation services. Direct revenue grew 9.8% Q-o-Q and 31.8% Y-o-Y on a reported basis. In constant currency, revenue grew 9.9% Q-o-Q and 31.5% Y-o-Y.

Nitin Rakesh, the chief executive officer (CEO) and managing director (MD) of Mphasis, said, "Our wallet-share gains in strategic accounts, as well as our accelerating success with new clients is evidence of our ability to continually expand the addressable market within our clients, going beyond traditional services. We believe that our broad-based success with clients positions us well for industry-leading growth in our Direct business for FY22."

Shares of Mphasis dropped 4.30% to Rs 3,250.35 on BSE. Mphasis applies next-generation technology to help enterprises transform businesses globally.

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