Mphasis Limited, an Information Technology (IT) solutions provider has announced its financial results for the third quarter ended December 31, 2017.
Highlights of quarter ended December 31, 2017
· Net revenue grew to Rs 16,607 million in Q3 FY18 by 3.5% QoQ and 8.1% YoY; 3.7% QoQ and 12.2% YoY in constant currency terms
· Direct International revenue grew 3.6% QoQ and 5.5% YoY. On constant currency basis, growth was 3.7% QoQ and 9.6% YoY
· Direct Core revenue grew 3.4% QoQ and 9.5% YoY. On constant currency basis, growth was 3.5% QoQ and 13.8% YoY
· DXC/HP Revenue grew 3.1% QoQ and 15.8% YoY. In constant currency terms, growth was 3.6% QoQ and 20.5% YoY
· Robust new deal wins of USD 130 million TCV in Direct International business of which 83% in focus areas of Digital, NextGen and Governance, Risk and Compliance (GRC) services
· Deal wins in the Direct International business stands at (YTD) USD 435 million as compared to USD 276 million in YTD FY17, higher by 58% YoY
· Net profit grew 8.7% QoQ and 7.3% YoY. Net Margin improved 60 bps QoQ
· Digital Risk signs up CitiMortgage as a marquee client for its digital mortgage platform, LoanFx
· Guru Grewal joins as Head of Europe to drive Mphasis' growth strategy in the region
“With the knowledge that 'every business is a digital business', we are proactively providing a roadmap to enable our enterprise clients to reimagine their digital future. The Mphasis X2C2TM and Front to Back TM (F2B) transformation are solid foundations aimed at delivering high-impact business outcomes of speed, innovation and cost-effectiveness. Our deal wins and strong pipeline this year is a proof of this strategy in action”, said Nitin Rakesh, Chief Executive Officer and Executive Director, Mphasis.