Mphasis Posts 11.4% YoY Revenue Growth; Deal Wins Ease to $528 Million After Record Quarter

Mphasis Limited marked a strong performance powered by continued momentum in AI-led services and large client wins.

For the second quarter of FY26, gross revenue grew 5.3% sequentially and 11.4% year-on-year on a reported basis, with its consolidated revenue being ₹3,931.6 crore and net revenue is ₹3,801.9 crore. 

In constant currency terms, revenue rose 2.0% quarter-on-quarter and 6.0% year-on-year. 

Its operating margin stood at 15.3%. Net profit grew 6.2% sequentially and 10.8% year-on-year to ₹469.1 crore.

Mphasis CEO and managing director Nitin Rakesh said that the company’s early, focused investments in AI have positioned it as a strategic partner for clients navigating their transformation journey. 

“Another strong quarter of TCV wins of $528 million is a testimony to our AI first approach delivering business outcomes, across diverse industries,” he said. 

During the quarter, Mphasis secured several large deals reflecting its deepening presence in digital and AI-driven transformation programs. 

The company’s direct revenue increased 5.5% QoQ and 13.4% YoY on a reported basis, and 2.2% QoQ and 7.9% YoY in constant currency. 

It reported total contract value (TCV) wins of $528 million in its direct business during the September quarter, with 87% of those deals in next-generation services. This compares to a record $760 million (direct) in the June quarter, the company’s highest in the last eight quarters.

Notable clients, including a US-based airline, a high-tech device manufacturing giant, and a US wireless telecommunications company, chose Mphasis for large-scale digital transformation programs spanning AI-powered cloud operations, R&D platform modernisation, and enterprise application development.

The tier-2 Indian IT company derived the bulk of its revenue from the Americas, which contributed ₹3,287.7 crore, accounting for 83.6% of total revenue in the quarter. 

This marks an increase from ₹3,116.0 crore in the June quarter and ₹2,847.9 crore a year earlier, underscoring continued business momentum in its largest market. 

The company reported a total headcount of 30,809 employees as of September 30, 2025, down slightly from 31,063 in the previous quarter and 31,601 a year earlier, reflecting continued optimisation in workforce deployment.

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