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ICICI Direct Report
Mphasis Ltd. reported a healthy set of Q2 FY21 numbers.
Revenues in dollar terms increased 7.2% QoQ mainly led by 11.7% QoQ growth in direct channel partially offset by 13.3% QoQ decline in DXC Technology channel.
While optically it looks like bulk of the growth was due to business process outsourcing, however, the growth was in IT also if one adjusts dip in DXC (that is predominantly in IT).
In addition, the company has guided at margins of 15.5-16.5% for FY21E.
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