Mphasis Says FY23 Will Be Another Industry-Leading Growth Year
Mphasis' direct revenue grew across all four quarters at 30% plus on a year-on-year basis
Mphasis Ltd. expects FY23 to be "another industry-leading growth year" for its direct business based on the strength of its order book.
A strong pipeline in the order book along with the company’s flexibility to adapt to any situation will lead to yet another strong year, Mphasis' Chief Executive Officer Nitin Rakesh and Chief Financial Officer Manish Dugar told BloombergQuint’s Niraj Shah in an interview.
Even though the management anticipates some concerns with demand-supply mismatch, geopolitical tensions, and a weaker macro environment, the duo expects the company to still deliver growth in this fiscal.
Earnings Snapshot
Mphasis Q4 Results (Consolidated, QoQ)
Consolidated revenue up 4.9% at Rs 3,277.7 crore vs Rs 3,123.7 crore.
Consolidated EBIT up 5.7% at Rs 497.3 crore vs Rs 470.6 crore.
Consolidated EBIT margin at 15.2% vs 15.1%.
Consolidated profit up 9.6% at Rs 392.1 crore vs Rs 357.8 crore.
From an earnings point of view, the management considers it to be "one of the best years in the history of the company, especially for direct growth".
The company's direct revenue grew across all four quarters at 30% plus on a year-on-year basis. With over 36% growth in direct revenue in the March quarter, the management suggests that this level of growth is "probably the best performance in the industry".
The mix of delivering short-term orders along with sustainable and profitable long-term orders successfully makes the company poised for another year of stellar growth, the management said.
Watch the entire conversation below:
