Mphasis wins a total contract value (TCV) of USD 302 million in Direct business

Gross revenue grew 23.9% YoY in Q2 2023

BENGALURU, India, Oct. 21, 2022 /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 the second quarter ended 30th September 2022.

Mphasis logo (PRNewsfoto/Gutenberg)

Quarter ended 30th September 2022

  • Gross Revenue grew 4.0% QoQ and 23.9% YoY on a reported basis. In Constant Currency, growth was 1.8% QoQ and 16.8% YoY
  • New TCV wins of USD 302 million in Q2 FY23 in Direct, of which 81% is in new generation services
  • Two large deal wins in Q2 FY23 totaling to USD 110 million; TCV wins of H1’FY23 USD 604 million
  • Direct revenue grew 4.2% QoQ and 26.6% YoY on a reported basis. In Constant Currency, revenue grew 2.0% QoQ and 19.2% YoY
  • Net profit grew 4.1% QoQ and 22.6% YoY to ₹ 4,185 million in Q2 FY23
  • EPS grew 4.0% QoQ and 22.0% YoY to ₹ 22.2 in Q2 FY23.
Gross revenue grew 23.9% YoY in Q2 2023

 “Our consistent performance is proof of our timely and continued investment in the right growth areas, while executing on our fundamental strengths. We have institutionalized a strong deal archetype playbook by account, for protecting the core, repeatable growth in capability-led transformation and accelerating from ‘Run’ to ‘Change’, at the speed of our clients,” said Nitin Rakesh, Chief Executive Officer, and Managing Director, Mphasis.

Deal Wins:

  • A leading US Bank has engaged Mphasis for cloud adoption and modernization of their retail banking applications, optimizing the cost of operations over time
  • Mphasis has partnered with a leading logistics provider to develop their architecture processes, playbooks, best practices, and guidelines to account for Architecture assurance

Awards and Recognitions:

  • Recognized as one of the Best Tech Brands 2022 by The Economic Times
  • Ranked #2 out of 27 EMEA companies and #34 out of 130 North American companies in the 2022 Global Talent Board CandE Benchmark Research Program
  • Named a ‘finalist’ in the Wells Fargo Innovation Challenge 2022 – ‘Designing the Multi-X Future’
  • Won Silver at the prestigious Brandon Hall awards 2022 for excellence in Talent Acquisition
  • Won the ISG Provider Lens Award 2022 for Public Cloud – Services & Solutions.

Analyst Positioning:

  • Recognized as Major Contender in Everest Group’s Financial Crime and Compliance Operations Services PEAK Matrix® Assessment 2022
  • Identified as ‘Cool Vendors in Quantum Computing’ by Gartner
  • Ranked in Top 10 by HFS for HCP Service Providers, 2022
  • Positioned as a “Major Contender” in Everest Group’s PEAK Matrix Assessment 2022 for Connected Medical Device Services
  • Ranked in Top 10 by HFS for Cybersecurity Service Providers, 2022
  • Ranked in HFS Top 10: Capital Markets Services, 2022—Formidable Challengers
  • Featured in ‘The Breakthrough 15’ in the 79th ISG Index Q2 2022
  • Recognized as Major Contender in Everest Group’s Data and Analytics D&A Services PEAK Matrix® Assessment 2022
  • Recognized as Major Contender in Everest Group’s IT Security Services PEAK Matrix® Assessment 2022

North America

  • Recognized as Major Contender in Everest Group’s System Integration (SI) Capabilities on Microsoft Azure Services PEAK Matrix® Assessment 2022
  • Recognized as Major Contender in Everest Group’s System Integration (SI) Capabilities on Amazon Web Services (AWS) PEAK Matrix® Assessment 2022
  • Positioned as a Major Contender in Everest Group’s Multi-Cloud Application Development Services PEAK Matrix® Assessment 2022
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 mentioned in this presentation concerning our future growth prospects are forward looking statements (the “Forward Statements”) and are based on reasonable expectations of the management, which involves a number of risks, and uncertainties that could cause actual results to differ materially from those in such Forward Statements. The risks and uncertainties relating to these Forward Statements include, but are not limited to, risks and uncertainties regarding fluctuations in our earnings, fluctuations in foreign exchange rates, 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, time and cost overruns on fixed-price and fixed-time frame contracts, restrictions on immigration, industry segment concentration, our ability to manage our international operations, our revenues being highly dependent on clients in the United States of America, reduced demand for technology in our key focus areas, disruptions in telecommunication networks or system failures, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, withdrawal of fiscal governmental incentives, political instability, adverse impact of global pandemics (including COVID-19 impact), war, legal restrictions on raising capital or acquiring companies, unauthorized use of our intellectual property(ies) and general economic conditions affecting our businesses and industry. We may, from time to time, make additional written and oral Forward Statements. We do not undertake to update any Forward Statements that may be made from time to time by us or on our behalf, unless required under the law.

For further information please contact:

Corporate Communications Deepa Nagraj

Mphasis Limited

Phone: + 91 080 4004 1091; Mobile: +91 98452 56283;

Investor Relations Suraj Digawalekar CDR India

Phone: +91 22 6645 1219



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