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Mphasis earns Rs 1073 cr net profit in FY19
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Mphasis earns Rs 1073 cr net profit in FY19

Agency News

Bengaluru, May 28: Mphasis Limited, an Information Technology (IT) solutions provider specialising in cloud and cognitive services, has achieved a 22.6 per cent growth in its gross revenues and 14.2 per cent in constant currency for the financial year ending March 31.

Net profit (after exceptional items) grew 28.2% YoY to Rs 1073.4 crore. During the fourth quarter, the gross revenue grew 20.2 per cent YoY and 2.2 per cent QoQ on a reported basis. In constant currency growth was 12.6 per cent YoY and 2.9 per cent QoQ.

DXC/HP revenue grew 26.1 per cent YoY and remained flat QoQ on a reported basis. In constant currency growth was 19.4 per cent YoY and 0.4 per cent QoQ, a company release said.Direct International revenue grew 18.8 per cent YoY and 3.5 per cent QoQ on a reported basis. In constant currency growth was 10.4 per cent YoY and 4.3 per cent QoQ Direct Core revenue grew 27.7 per cent YoY and 2.9 per cent QoQ on a reported basis. In constant currency growth was 18.8 per cent YoY and 3.7 per cent QoQ.

Mphasis Board of Directors recommended a dividend of Rs 27 per share for FY 2019. “We are very encouraged by the consistent and healthy growth of Mphasis over the quarters; especially in New Gen Services which contributes to 46% of our Direct Core portfolio. We continue to invest in growing our service offerings and strengthening our go-to-market; both by building core offerings as well as partnering with the best-in-class,” Nitin Rakesh, Chief Executive Officer and Executive Director, Mphasis,said. (UNI)