Signing of new deal worth $216 million deal in July 2020, in addition to the Q1 TCV declared wins worth $259 million also boosted sentiment
Today, a total of 10 companies, including Maruti Suzuki India, MPhasis, and ABB are scheduled to announce their results
Mphasis, an information technology solutions provider specialising in cloud and cognitive services, on Wednesday announced that it has signed a partnership agreement with French group Oodrive. Oodrive, which provides digital workplace solutions for professionals to share, save and sign their sensitive data, will integrate its CertSign digital signature solution with Wynsure, Mphasis' core software solution for the insurance industry, the Bengaluru-headquartered company said. By integrating Oodrive's CertSign digital signature solution, Mphasis is able to offer a new digital subscription process, ensuring paperless signature authentication and online contractual value, it said in a statement. CertSign complies with the General Security Repository and the elDAS European regulations, which are currently the highest standards in the market for sensitive data protection, according to the statement.
For the full 2018-19, Mphasis' net profit was up 28.1 per cent to Rs 1,073.35 crore
If you look two years back, the portion of fixed price contracts has risen from 11% to around 25%, said Mphasis CEO Nitin Rakesh
The company said it saw new deal wins of $122 million in direct international business, of which 81 per cent are in new-generation services
MphasiS has been a steady performer on the operational front from the last two years.
Post this acquisition, Mphasis is likely to strengthen its cloud-based offerings in Cloud DevOps and DevSecOps within AWS Ecosystem
The stock slipped 9% to Rs 970 on the BSE in early morning trade on Wednesday after the stock turned ex-date for the proposed buy-back.
The company said its new deal wins in the quarter stood at $210 million
The stock dipped 4% to Rs 1,149 on the BSE after the IT Company reported in line with 8.7% QoQ growth in consolidated net profit at Rs 2.58 billion in June quarter.
The net profit of Mphasis rose 8.7 per cent on the sequential term
Last year, the company had completed buyback of 17.4 million shares with a total outlay of Rs 11.03 billion
The stock was 4% at Rs 1,225 on the BSE after the company said that its board will consider a share buyback proposal on Tuesday, August 7, 2018.
The stock rallied 10% to Rs 1,080 on the NSE in late noon deal
The stock was trading 2.2% higher at Rs 1,010, bouncing back 5% from early morning low of Rs 960 touched on the NSE after nearly 8% of total equity of IT company changed hands via block deals.
Mphasis brought Nitin Rakesh as chief executive in January
Bengaluru-based firm gets 70% of its business from the US, 20% from Europe, rests from other parts
Private equity firm Blackstone had bought majority stake in Mphasis from HPE for about $1.1 billion
Rakesh took over as CEO and additional director on the Board at Mphasis with effect from January 29