Revenue from operations rose marginally to Rs 3,422.46 crore in Q1 FY25 as against Rs 3,412.05 crore posted in Q4 FY24. As compared with Q1 FY24, the company's net profit increased 2.13% while revenue grew by 5.24% in Q1 FY25. Profit before tax was at Rs 537.32 crore in quarter ended 30 June 2024 (up 2.87% QoQ and up 2.2% YoY). The company's gross revenue increased 0.2% QoQ and 4.6% YoY in Q1 FY25 on reported basis and declined 0.1% QoQ and grew 3.1% YoY in constant currency. Direct revenue grew 0.6% QoQ and 5.6% YoY on reported basis and grew 0.3% QoQ and 4.1% YoY in constant currency. New total contact value (TCV) stood at $319 million in Q1 FY25 in Direct, of which 84% were in the new-gen services. Nitin Rakesh, chief executive officer, and managing director, Mphasis, said, 'As AI-enabled platforms are adopted at scale and infused across all deal archetypes and solutions, we continue to witness a strong growth momentum in Artificial Intelligence (AI) powered deals by leveraging our 'Savings led TransformationTM' theme. We are seeing a steady improvement in client demand, and with the strength of our deal pipeline, we remain cautiously optimistic that this trend will continue to improve in our core markets.' Mphasis is an information technology (IT) solutions provider specializing in cloud and cognitive services. Powered by Capital Market - Live News |