Conference Call with MphasiS Ltd. Management and Analysts on Q3FY23 Performance and Outlook. Listen to the full earnings transcript.
IT Consulting & Software company MphasiS announced Q3FY23 results: Q3FY23: Gross revenue grew 0.2% QoQ and 14.2% YoY on a reported basis. In constant currency, revenue declined 2.5% QoQ and grew 5.7% YoY Direct revenue remained flat QoQ and grew 15.1% YoY on a reported basis. In constant currency, revenue declined 2.8% QoQ and grew 6.4% YoY New TCV wins of USD 401 million in Q3FY23 in Direct, 2nd highest on record, of which 74% in new generation services Five large deal wins in Q3FY23, which is the highest ever on record to date; FYTD TCV wins are over USD 1 billion Net profit declined 1.5% QoQ and grew 15.3% YoY to Rs 4,123 million in Q3FY23 EPS declined 1.6% QoQ and grew 14.7% YoY to Rs 21.9 in Q3FY23. “This quarter reflects the duality in our current business environment. On one hand, our core business continues to perform well. On the other hand, there are cyclical headwinds due to market hypersensitivity in our mortgage business, with interest rate movements. We continue to have a strong market share and wallet share gains in our chosen segments, as reflected in our TCV wins and pipeline. We are happy with the optimization efforts we undertook in 2022, including accelerated fresher adoption and enhancing operational efficiencies, enabling us to invest and still hold the EBIT margins” said Nitin Rakesh, Chief Executive Officer, and Managing Director, Mphasis. Result PDF