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Mphasis reported 29.6 % growth in net profit to Rs 250.8 crore for the January-March quarter

IT services firm Mphasis reported 29.6 % growth in net profit to Rs 250.8 crore for the January-March quarter. The blackstone-backed firm posed revenues of $1.15 billion for fiscal 2018.

The company revenue for the quarter grew 5 per cent to Rs 1744.5 crore including one-time revenue from India Government business of $119 million. During the year-ago period, Mphasis posted a net profit of Rs 193.4 crore on revenues of Rs 1505.9 crore.

“In FY19 we are going to expand our go-to-market efforts and increase our efforts on creating synergies across our multiple units within Direct International… We will continue to increase our sales investment and focus in Europe and expect this to be a key growth driver in FY19,” said Nitin Rakesh, CEO of Mphasis.

In Q4 FY18, revenue from DXC/HP grew 9.2% sequentially and 28.1 percent YoY on a reported basis. “Larger transformation deal with DXC/HP which helped grow revenue,” Rakesh said. “It is extremely important to sustain the win momentum and continue to do well in new areas since that is where the growth is.”

The share of revenue for digital and NextGen in Direct core constituted 43 percent for the quarter ended March with a sequential growth of 8.3 percent. “In our Direct Core business, 83% of the deals is in our digital and NextGen services,” Rakesh said.

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