Mphasis Gross Revenue grew 11.6%* YoY in Q2 FY 2020

BENGALURU, India, Nov. 15, 2019 /PRNewswire/ -- Mphasis Limited (BSE: 526299; NSE: MPHASIS), an Information Technology (IT) solutions provider specializing in cloud and cognitive services, today announced its financial results for quarter ended 30^thSeptember 2019.

Highlights of performance for the Quarter ended 30^thSeptember 2019

• Gross Revenue grew 4.1% QoQ and 10.2% YoY on a reported basis; On constant currency basis, growth was 3.1% QoQ and 11.6% YoY
• Direct Core revenue grew 4.3% QoQ and 15.1% YoY on a reported basis; On constant currency basis, growth was 3.1% QoQ and 16.4% YoY
• DXC/HP revenue grew 1.0% QoQ and 7.4% YoY on a reported basis; On constant currency basis, growth was 0.1% QoQ and 9.5% YoY
• New deal wins of USD 174 million in Direct International business; of which 77% are in New-Gen Services
• Net profit grew 3.2% QoQ and 0.9% YoY on a reported basis
• EPS grew 3.2% QoQ and 4.7% YoY to INR 14.70.

"There is accelerated demand for agility and nimbler solutions by our clients, to help reduce the technical debt that comes with legacy. We have seen this trend being amplified and combined with the need for customer centricity with end consumers expecting highly personalized products and services. This has been a very fertile ground for companies with the right solutions and propositions in the enterprise world," said Nitin Rakesh, Chief Executive Officer and Executive Director, Mphasis.

Other highlights for the quarter: 

• Mphasis Awarded U.S. Patent for its Artificial Intelligence (AI) System for Cognitive Analysis of Data
• Mphasis' Deep Learning and Machine Learning algorithms are now available on Amazon Web Services (AWS) Marketplace for Machine Learning.

Recognitions and Analyst Accolades:

• Mphasis DeepInsights recognized Cloud Excellence Awards - Cloud Analytics Product of the Year by Computing
• Recognized '2019 Partner of the Year' by Pivotal across 'Customer Impact Systems Integrators of the Year' and 'Systems Integrator of the Year for Application Scale' category
• Recognized with Bronze STEVIE® Award for Great Employers - Employer of the Year
• Recognized as Major Contender in Everest's "Financial Crime and Compliance Operations Services Peak Matrix Assessment 2019" Report
• Ranked 6th in HFS Top 10 Banking and Financial Services Sector Service Providers 2019 report
• Recognized as Major Contender in Everest' Banking BPS – Service Provider Landscape with Services PEAK Matrix™ Assessment 2019
• Recognized as Major Contender in Everest Group Enterprise Platform IT Services in BFS PEAK Matrix™ Assessment 2019.

* In Constant Currency terms

About Mphasis

Mphasis (BSE: 526299; NSE: MPHASIS) applies next-generation technology to help enterprises transform businesses globally. Customer centricity is foundational to Mphasis and is reflected in the Mphasis' Front2Back™ Transformation approach. Front2Back™ uses the exponential power of cloud and cognitive to provide hyper-personalized (C=X2C² _TM=1) digital experience to clients and their end customers. Mphasis' Service Transformation approach helps 'shrink the core' through the application of digital technologies across legacy environments within an enterprise, enabling businesses to stay ahead in a changing world. Mphasis' core reference architectures and tools, speed and innovation with domain expertise and specialization are key to building strong relationships with marquee clients. Click here to know more.

Safe Harbor:
Certain statements in this release concerning our future growth prospects are forward-looking statements, which involve a number of risks, and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in our earnings, revenue and profits, our ability to generate and manage growth, intense competition in IT services, wage increases in India, our ability to attract and retain highly skilled professionals, our ability to manage our international operations, reduced demand for technology in our key focus areas, withdrawal of fiscal governmental incentives, political instability, war, legal restrictions on raising capital or acquiring companies, and general economic conditions affecting our business and industry. We may, from time to time, make additional written and oral forward-looking statements. We do not undertake to update any forward-looking statement that may be made from time to time by us or on our behalf.

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SOURCE Mphasis