Mphasis direct international business grows in Q3 FY16

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IT services provider Mphasis, a HP company, today said its direct international business grew 3.1 percent q-o-q in Q3 FY16. Compared to the same period a year ago, the increase was 32 percent.

The company received a total contract value of $61 million from direct international business, with 46 percent of contracts coming from next generation services. Mphasis has an operating margin of 13.2 percent.

During the period for which financial results are disclosed, the company has been awarded ET Best Tech Brands-Most Distinguished Digital Company 2015 by the Economics Times. Moreover, American Banker and BAI named Mphasis as one of the top companies in FinTech.

“The entire industry is witnessing change in demand patterns. Digital revolution would necessitate organizations toinnovate and specialize. We are enjoying the benefits of our transformation towards hyper-specialization and customer focus.” said Ganesh Ayyar, Chief Executive Officer, Mphasis.

“Our productivity improvement plan has provided stellar impact despite 160 bps impact from wage hike. This gives us greater confidence to deliver on our margin goals,” said V. Suryanarayanan, Executive Vice President and Chief Financial Officer, Mphasis.

Arya MM

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