Mphasis’ Net Profit Grows 21.2% YoY in Q3 FY17

Mphasis, a leading Information Technology (IT) services provider, announced its financial results for the third quarter ended 31st December 2016. Recently, Mphasis announced the appointment of Nitin Rakesh as its Chief Executive Officer and Additional Director on the Board with effect from 29 January 2017.

Highlights for Q3 FY17

· Direct Core revenues grew 1.2% QoQ and 8.4% YoY

· Robust new deal wins with $ 96 million TCV in Direct International business of which 51% in new generation services

· HP business grew 1.8% QoQ

· Operating margins expanded 140 bps YoY to 14.7%

· Net profit margin improved 220 bps YoY to 13.3%

· DSO improves by 7 days QoQ to 60 days resulting in strong operating cash generation of `2,601 million during the quarter

· Board has approved a buy-back at maximum price of `635 per share, aggregating to ` 11,030 million, pending shareholder and regulatory approval.

“We are pleased with the performance this quarter, especially with strong TCV wins. We will continue to build on these and position the company for greater acceleration,” said Nitin Rakesh, Chief Executive Officer and Director, Mphasis.