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Mphasis Results: Latest Quarterly Results & Analysis

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MphasiS Ltd. 31 Oct 2025 11:18 AM
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Q2FY26 Quarterly Result Announced for MphasiS Ltd.

IT Consulting & Software company MphasiS announced Q2FY26 results

  • Gross Revenue grew 5.3% QoQ and 11.4% YoY in Q2FY26 on a reported basis and grew 2.0% QoQ and 6.0% YoY in Constant Currency.
  • Direct revenue grew 5.5% QoQ and 13.4% YoY on a reported basis and grew 2.2% QoQ and 7.9% YoY in Constant Currency.
  • New TCV wins of USD 528 million in Direct, of which 87% is in new-gen services.
  • Reported operating margin at 15.3%.
  • Net profit grew 6.2% QoQ and grew 10.8% YoY to Rs 4,691 million in Q2FY26.
  • EPS grew 6.2% QoQ and 10.2% YoY to Rs 24.7.

Nitin Rakesh, Chief Executive Officer & Managing Director, Mphasis, said: “Our early, focused investments in AI have positioned Mphasis as a strategic partner for clients navigating their transformation journey. Another strong quarter of TCV wins of USD 528 million is a testimony to our AI first approach delivering business outcomes, across diverse industries.”

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IT Consulting & Software company MphasiS announced Q4FY25 & FY25 results

Q4FY25 Financial Highlights:

  • Gross Revenue grew 4.5 % QoQ and 8.9% YoY on a reported basis to Rs 37,175 million and grew 2.9% QoQ and 5.4% YoY in Constant Currency.
  • Direct revenue grew 5.4% QoQ and 10.4% YoY on a reported basis to Rs 35,950 million and grew 3.8% QoQ and 6.8% YoY in Constant Currency.
  • New TCV wins USD 390 million in Direct; of which 85% in new-gen services.
  • Reported operating margin at 15.3%.
  • Net profit grew 4.4% QoQ and 13.6% YoY to Rs 4,465 million.
  • EPS grew 4.1% QoQ and 12.9% YoY to Rs 23.5.

FY25 Financial Highlights:

  • FY25 revenue grew 6.7% YoY on a reported basis and 4.6% in Constant Currency to Rs 142.2 billion.
  • Direct revenue grew 7.6% YoY on a reported basis and 5.6% in Constant Currency to Rs 136.6 billion.
  • New TCV wins of USD 1.27 billion in FY25 in Direct.
  • Net profit grew 9.5% to Rs 17,021 million in FY25.
  • EPS grew 9.1% to Rs 89.9 in FY25.
  • The Board of Directors recommended a dividend of Rs 57 per share for FY25, subject to shareholder approval.

Nitin Rakesh, Chief Executive Officer & Managing Director, Mphasis, said: “We are pleased with a quarter of broad-based performance, reporting the highest QoQ growth in 12 quarters, highest TCV wins in 7 quarters, highest ever quarterly and full year EPS, and 86% YoY growth in pipeline. In this uncertain macro environment, our focus is on continued investments in growth, keeping Tech and AI at the core, and leveraging solutions to transform and modernize our client’s technology and operations stack.”

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IT Consulting & Software company MphasiS announced Q3FY25 results

  • Gross revenue grew 0.8% QoQ and 6.1% YoY in Q3FY25 on a reported basis and grew 0.2% QoQ and 4.6% YoY in Constant Currency.
  • Direct revenue grew 0.8% QoQ and 6.6% YoY on a reported basis and grew 0.2% QoQ and 5.1% YoY in Constant Currency.
  • New TCV wins of USD 351 million in Q3FY25 in Direct.
  • Reported operating margin at 15.3%.
  • Net profit grew 1.1% QoQ and 14.5% YoY to Rs 4,278 million in Q3FY25.
  • EPS grew 1.0% QoQ and 14.1% YoY to Rs 22.6 in Q3FY25.

Nitin Rakesh, Chief Executive Officer, & Managing Director, Mphasis, said: “We continue to stay focused on driving deal activity and closures, as we get on the other side of the macro cycle. AI is driving a fundamental shift that redefines and expands our addressable market. With the infusion of our NeoZeta™ and NeoCrux™ AI platforms, we are witnessing a considerable uptick in AI adoption, as evidenced in our deal wins and pipeline growth.”

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IT Consulting & Software company MphasiS announced Q2FY25 results

  • Gross Revenue grew 3.1% QoQ and 7.0% YoY in Q2FY25 on a reported basis and grew 2.4% QoQ and 5.4% YoY in Constant Currency.
  • Direct revenue grew 3.2% QoQ and 7.9% YoY on a reported basis and grew 2.4% QoQ and 6.2% YoY in Constant Currency.
  • New TCV wins of USD 207 million in Q2 FY25 in Direct; of which 88% in new-gen services.
  • Reported operating margin at 15.4%.
  • Net profit grew 4.7% QoQ and 8.0% YoY to Rs 4,233 million in Q2FY25.
  • EPS grew 4.6% QoQ and 7.7% YoY to Rs 22.4 in Q2FY25.

Nitin Rakesh, Chief Executive Officer, and Managing Director, Mphasis said: “Despite many ongoing challenges, the macro environment continues to trend in the right direction. We are witnessing increased AI adoption across clients to address enterprise challenges with higher efficiency and accuracy, beyond cost advantage. Savings led transformation TM thesis is core to all our deal archetypes and solutions, thus significantly enhancing service delivery and savings for clients”.

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IT Consulting & Software company Mphasis announced Q1FY25 results:

  • Gross Revenue grew 0.2% QoQ and 4.6% YoY in Q1FY25 on reported basis and declined 0.1% QoQ and grew 3.1% YoY in Constant Currency
  • Direct revenue grew 0.6% QoQ and 5.6% YoY on reported basis and grew 0.3% QoQ and 4.1% YoY in Constant Currency
  • New TCV wins of USD 319 million in Q1FY25 in Direct; of which 84% in new-gen services
  • Net profit grew 2.9% QoQ and 2.1% YoY to Rs 4,045 million in Q1FY25
  • EPS grew 2.8% QoQ and 1.8% YoY to Rs 21.4 in Q1FY25.

Nitin Rakesh, Chief Executive Officer, and Managing Director, Mphasis, said: “As AI-enabled platforms are adopted at scale and infused across all deal archetypes and solutions; we continue to witness a strong growth momentum in Artificial Intelligence (AI) powered deals by leveraging our ‘Savings led TransformationTM’ theme. We are seeing a steady improvement in client demand, and with the strength of our deal pipeline, we remain cautiously optimistic that this trend will continue to improve in our core markets”

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IT Consulting & Software company MphasiS announced Q4FY24 & FY24 results:

Q4FY24 Financial Highlights:

  • Gross Revenue grew 1.9% QoQ and grew 0.8% YoY on reported basis to Rs 34,150 million in Q4 FY24 and grew 2.1% QoQ and declined 0.4% YoY in Constant Currency
  • Direct revenue grew 1.9% QoQ and grew 1.6% YoY on a reported basis to Rs 32,571 million in Q4 FY24 and grew 2.0% QoQ and grew 0.4% YoY in Constant Currency
  • New TCV wins of USD 177 million in Q4 FY24 in Direct; of which 77% in new-gen services.
  • Net profit margin at 11.5% at Rs 3,932 million in Q4 FY24
  • EPS grew 5.1% QoQ and declined 3.3% YoY to Rs 20.8 in Q4 FY24.

FY24 Financial Highlights:

  • FY 2024 revenue declined 3.7% YoY on reported basis and 6.5% in Constant Currency to Rs 133.3 billion
  • Direct revenue declined 2.3% YoY on reported basis and 5.2% in Constant Currency to Rs 126.9 billion
  • New TCV wins USD 1.38 billion in FY 2024 in Direct
  • Net profit margin at 11.7% at Rs 15,548 million in FY 2024
  • EPS declined 5.3% to Rs 82.4 in FY 2024
  • Mphasis Board of Directors recommended a dividend of Rs 55 per share for FY24, compared to Rs. 50 per share in FY 2023, subject to shareholder approval.

Nitin Rakesh, Chief Executive Officer, and Managing Director, Mphasis said, “We are experiencing strong growth momentum in Artificial Intelligence (AI) powered deal archetypes, as we look to capture the enterprise demand for AI adoption. Our ability to orchestrate the ecosystem by bringing technology and people together to solve for customer needs strongly positions us for growth in FY 2025, while we continue to work around the uncertainties in the overall economic environment.”

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IT Consulting & Software company MphasiS announced Q3FY24 results:

  • Gross Revenue grew 1.6% QoQ and declined 5.2% YoY in Q3FY24 on reported basis and grew 1.0% QoQ and declined 6.8% YoY in Constant Currency
  • Direct revenue grew 2.0% QoQ and declined 3.3% YoY on reported basis and grew 1.3% QoQ and declined 5.0% YoY in Constant Currency
  • New TCV wins USD 241 million in Q3FY24 in Direct; of which 85% in new-gen services. FYTD TCV wins of USD 1,203 million, grew 20% YoY
  • Net profit margin at 11.2% at Rs 3,736 million in Q3FY24
  • Reported EPS at Rs 19.8.

“We are witnessing signs of stability, despite seasonal softness in Q3FY24. While we are still in the midst of macro headwinds, clients are also accelerating towards newer sources of value such as AI to stay ahead. Building on our track record of strong pipeline to total contract value (TCV) conversion, we continue to focus on converting TCV to revenue,” said Nitin Rakesh, Chief Executive Officer, and Managing Director, Mphasis.

 

Result PDF

IT Consulting & Software company MphasiS announced Q2FY24 results:

  • Gross Revenue grew 0.7% QoQ and declined 6.5% YoY in Q2FY24 on a reported basis and remained flat QoQ and declined 10.1% YoY in Constant Currency
  • Direct revenue grew 1.0% QoQ and declined 5.2% YoY on a reported basis and grew 0.3% QoQ and declined 8.9% YoY in Constant Currency
  • New TCV wins of USD 255 million in Q2FY24 in Direct; of which 70% in new-gen services
  • Net profit declined 1% QoQ and 6.3% YoY to Rs 3,919 million in Q2FY24
  • EPS declined 1.1% QoQ and 6.6% YoY to Rs 20.8 in Q2FY24.

"We are seeing signs of bottoming out, thanks to stability in mortgage and visibility to growth given the sustained pipeline expansion and contract closures that are starting to gain momentum. We are focused on establishing a path of AI acceleration with our full-fledged Mphasis.ai business unit, with key GTM along with solutions AI partnerships to make the most of this opportunity", said Nitin Rakesh, Chief Executive Officer, and Managing Director, Mphasis.

 

Result PDF

IT Consulting & Software company Mphasis announced Q1FY24 results:

  • Gross Revenue declined 3.5% QoQ and 3.5% YoY in Q1FY24 on a reported basis and declined 3.5% QoQ and 8.4% YoY in Constant Currency
  • Direct revenue declined 3.2% QoQ and 2.1% YoY on a reported basis and declined 3.2% QoQ and 7.2% YoY in Constant Currency
  • New TCV wins of USD 707 million in Q1FY24 in Direct; of which 71% in new-gen services.
  • Net profit declined 2.3% QoQ and 1.5% YoY to Rs 3,961 million in Q1FY24.
  • EPS declined 2.3% QoQ and 1.8% YoY to Rs 21 in Q1FY24.

"We are very pleased with the record-breaking TCV as well as large deal wins this quarter, aided by strong wins in the newly launched Mphasis.ai Business Unit. While the macro-economic environment is still uncertain; we continue to broad base our growth across client segments, verticals, and geographies, with strong pipeline growth. We also believe that based on improved visibility driven by deal wins, bottoming of the mortgage cycle, and early signs of increased activity, we should see revenue growth pick up progressively through the remainder of FY 2024", said Nitin Rakesh, Chief Executive Officer, and Managing Director, Mphasis.

 

 

Result PDF

IT Consulting & Software company Mphasis announced Q4FY23 & FY23 results:

  • Q4FY23:
    • Gross Revenue declined 4.1% QoQ and grew 4.5% YoY on reported basis to Rs 33,893 million in Q4FY23 and declined 4.5% QoQ and 3.1% YoY in Constant Currency
    • Direct revenue declined 3.1% QoQ and grew 6.1% YoY on a reported basis to Rs 32,055 million in Q4FY23 and declined 3.4% QoQ and 1.8% YoY in Constant Currency
    • New TCV wins of USD 309 million in Q4FY23 in Direct; of which 85% in new-gen services
    • Net profit declined 1.7% QoQ and grew 3.4% YoY to Rs 4,053 million in Q4FY23
    • EPS declined 1.8% QoQ and grew 3.0% YoY to Rs 21.5 in Q4FY23
  • FY23:
    • FY23 revenue grew 16.7% YoY on a reported basis and 9.7% in Constant Currency to Rs 138.4 billion
    • Direct revenue grew 19.3% YoY on a reported basis and 12.0% in Constant Currency to Rs 129.9 billion
    • New TCV wins USD 1.3 billion in FY23 in Direct
    • Net profit grew 14.5% to Rs 16,379 million in FY23
    • EPS grew 14.0% to Rs 87.1 in FY23
    • Mphasis Board of Directors recommended a dividend of Rs 50 per share for FY23, subject to shareholder approval

“The macro-economic environment remains uncertain while we continue to look for aligning with our client’s current priorities. Strategic technology spends may have slowed down, however, hasn’t been paused. Enterprises continue to invest in Cloud, Digital Transformation, and consolidation priorities. Institutionalizing cost transformation projects is enabling them free up working capital. We see these as opportunities for proactive deal-making and gaining share of wallet, translating into a strong pipeline and continued deal conversion,” said Nitin Rakesh, Chief Executive Officer, and Managing Director, Mphasis.

 

 

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