Midsized IT company Mphasis on posted a 5.6 % growth in profit to ₹293.6 crore in the third quarter ended December compared to the year-ago quarter. On a sequential basis profit grew 7.4%.
Total income of Mphasis increased by 14.4% to ₹2,312.8 crore during the reported quarter from ₹2,021 crore in the year ago period.
The company reported that it won new deals with total contract value of $ 189 million in Q3 FY20 with 87% of the deal wins in NewGen Services (digital). New-Gen Services revenue grew 35.0% on a reported basis to 54.2% of direct core revenue in Q3 FY20.
"We are pleased with the results and continue to be enthusiastic about the health of our pipeline. We are focused on consistent performance while continuing to keep our clients' transformation needs at the center of our strategy and execution," said Nitin Rakesh, Chief Executive Officer and Executive Director, Mphasis said in a statement.
Direct international revenue grew 6.9% QoQ and 17.8% YoY on a reported basis in Q3 FY20. Revenue from banking and capital markets grew 17% YoY.
DXC/HP business revenue grew 1.9% QoQ and 3.6% YoY on a reported. DXC/HP business contributed 26.6% of the overall gross revenue in Q3 FY20 of which DXC business contributed 23.4% of the overall gross revenue in Q3 FY20.
Earnings before interest and taxation (EBIT) increased 6.5% QoQ and 18.8% YoY to ₹3,694 million
Americas continued to comprise 78% of the revenue share with the top client comprising 14% of total business.