Mphasis Gross Revenue grew 7% YoY on a reported basis in Q2 FY25

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Mumbai, 17 October 2024: 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 30th September 2024.

Quarter ended 30th September 2024

  • Gross Revenue grew 3.1% QoQ and 7.0% YoY in Q2 FY25 on a reported basis and grew 2.4% QoQ and 5.4% YoY in Constant Currency.
  • Direct revenue grew 3.2% QoQ and 7.9% YoY on a reported basis and grew 2.4% QoQ and 6.2% YoY in Constant Currency.
  • New TCV wins of USD 207 million in Q2 FY25 in Direct; of which 88% in new-gen services
  • Reported operating margin at 15.4%.
  • Net profit grew 4.7% QoQ and 8.0% YoY to ₹ 4,233 million in Q2 FY25.
  • EPS grew 4.6% QoQ and 7.7% YoY to ₹ 22.4 in Q2 FY25.

“Despite many ongoing challenges, the macro environment continues to trend in the right direction. We are witnessing increased AI adoption across clients to address enterprise challenges with higher efficiency and accuracy, beyond cost advantage. Savings led transformation TM thesis is core to all our deal archetypes and solutions, thus significantly enhancing service delivery and savings for clients”, said Nitin Rakesh, Chief Executive Officer, and Managing Director, Mphasis.

Deal wins:

  • A leading investment management company has selected Mphasis for its experience transformation program. Mphasis along with Kore.AI will be executing on this program and delivering significant savings.
  • A leading retirement solutions provider has engaged Mphasis to transform its UK contact centre operations. Mphasis expects to deliver significant operational savings to the client through this program.
  • Mphasis has been selected by a leading wireless network operator in the US as part of its renewed focus on cyber security and improving external reporting on cybersecurity posture and business risks. Mphasis’ empanelment and recognition as a key preferred vendor in the customer’s CISO organization puts us squarely in a new area of strategic spending and business criticality for the customer.
  • A leading Insurance, Investments, and Retirement Solutions Provider has selected Mphasis to standardize and optimize its application operations, increase service availability and reliability and optimize the cost of operations. Mphasis solutions to help the customer scale up and down as needed while reducing cost and managing risk.

Awards and Recognitions:

  • Mphasis recognized with ‘2024 Global DEI GOLD’ certification by Diversio.
  • Mphasis recognized as second runner-up at the ‘ASSOCHAM – Best Employer for Women’ in the large category awarded at the 5th Diversity & Inclusion Excellence Awards 2024.
  • Mphasis listed in the ‘100 Best Companies for Women in India in 2024’ by Avtar & Seramount; features in the Best Companies – Hall of Fame for having featured in the listing across five editions of the study.
  • Mphasis LeadHER program wins Silver for ‘Best Leadership Development for Women’ at the Brandon Hall Group

HCM Excellence Awards 2024.

  • Mphasis Silverline’s CalendarAnything won Demo Jam Session at the ‘2024 Southeast Dreamin’ Conference

Analyst Positioning:

  • Mphasis is positioned in the Contenders Category in the IDC MarketScape: Worldwide Data Modernization Services 2024 Vendor Assessment.
  • Recognized as ‘Leader’ in Everest Group’s Digital Transformation Services for Mid-market Enterprises PEAK Matrix®

Assessment 2024.

  • Recognized as ‘Major Contender and Star Performer’ in Everest Group’s Open Banking IT Services PEAK Matrix®

Assessment 2024.

  • Recognized as ‘Major Contender and Star Performer’ in Everest Group’s Key Verticals, Value Chain Elements, and

Nearshore Delivery Software Product Engineering Services PEAK Matrix® Assessment 2024.

– HFS Research

Assessment 2024 – North America

  • Recognized as ‘Major Contender’ in Everest Group’s Application Development Services PEAK Matrix® Assessment

2024 – Focus on OutSystems

  • Recognized as ‘Major Contender’ in Everest Group’s Salesforce Services PEAK Matrix® Assessment 2024