Mphasis net profit grows 33 pc in Q4, revenue in FY20 up 13 pc

IT solutions provider Mphasis has reported 32.7 per cent year-on-year growth and 20.3 per cent quarter-on-quarter growth in its net profit to Rs 353 crore during the January to March quarter.

Gross revenue was up 14.7 per cent year-on-year and 3.4 per cent quarter-on-quarter on a reported basis to Rs 2,346 crore. In constant currency, the growth was 11.1 per cent.

The company said it had 201 million dollars of total contract value (TCV) wins in direct international business of which 79 per cent were in new-generation services.

Direct core revenue grew 18 per cent year-on-year and 5 per cent quarter-on-quarter on a reported basis. In constant currency, growth was 13.6 per cent year-on-year and 2.6 per cent quarter-on-quarter.

The earnings per share in Q4 FY20 grew 32.4 per cent year-on-year and 20.2 per cent quarter-on-quarter to Rs 18.9. Mphasis board of directors has recommended a dividend of Rs 35 (350 per cent) per share for FY20.

"We are pleased with the growth in FY20. This year we recorded the highest ever TCV wins in direct international with 715 million dollars as well as strong earnings growth," said Nitin Rakesh, Chief Executive Officer and Executive Director.

"At Mphasis, we are focused on strengthening our position through this period of uncertainty by staying close to our clients and enabling them to accelerate their digital transformation journey during these challenging times," he said in a statement.

Mphasis specialises in cloud and cognitive services to help enterprises transform businesses globally.

( With inputs from ANI )