BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Motilal Oswal Report
Mphasis Ltd.’s Q1 FY22 performance was led by 9.8% constant currency q-o-q growth in the direct business, while the DXC vertical (less than 10% of revenues now) declined once again (down 18.1% q-o-q constant currency).
The Ebit margin remained stable (down 20 basis points q-o-q), as increased hiring was compensated by lower selling, general and administrative costs.
It reported the highest ever total contract of $505 million in Q1 FY22 (including $250 million announced on the Q1 FY22 call).
With the Mphasis management reiterating its guidance for industry-leading growth in the direct business, we expect the standout growth in direct to continue (26% y-o-y in FY22E) – led by the acceleration of deal wins (up 62% on last twelve months basis).
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