EMPHASIS ON LARGE DEALS

Mphasis is a digital transformation major with design engineering as its forte. It has some interesting deep engineering tools and works on the Mphasis Tribes and Squads model

This company is a digital transformation major with design engineering as its forte. It has some interesting deep engineering tools and works on the Mphasis Tribes and Squads model, some unique frameworks like the Front2Back approach, Cloud and Cognitive capabilities. It operates mainly in areas like service transformation, Next Ops, XAAP, Experience Design and Cyber Security. It was set up in 1992 and it serves some top global banks, top mortgage lenders, and top global insurance companies with a footprint in about 21 countries.

As per its Quarter results for Q2'23- The company's net profit rose 4.1 per cent QoQ and 22.6 per cent YoY to Rs 4,18.5 crore in Q2 FY23. The gross revenue grew 4.0 per cent QoQ and 23.9 per cent YoY on a reported basis.

In dollar terms, the company recorded revenues of $440 million, up 0.9 per cent QoQ and up 14.3 per cent YoY.

For the quarter-ended June 2022, Gross Revenue grew 4.5 per cent QoQ and 26.8 per cent YoY on a reported basis to INR 33.9 billion (USD 436 million). Direct revenue grew 5.0 per cent QoQ and 33.3 per cent YoY on a reported basis to INR 31.7 billion ($408 million). This quarter also saw new TCV wins of USD 302 million in Direct, of which 84 per cent in new generation services.