Mphasis’ Q1 FY2026 Performance Reflects Strong Growth and AI-Driven Deal Wins
Mumbai: Mphasis, a leading IT solutions provider, has announced its Q1 FY2026 financial results, showcasing significant growth and achievements. Here are the key highlights:
Financial Highlights
- Total Contract Value (TCV) Wins: Mphasis recorded its highest-ever quarterly TCV wins of USD 760 million in Q1 FY2026, with 82% of the wins coming from new-gen services and 68% being AI-led.
- Gross Revenue Growth: Gross revenue grew 9.2% year-over-year (YoY) on a reported basis and 6.5% YoY in constant currency.
- Direct Revenue Growth: Direct revenue increased 10.9% YoY on a reported basis and 8.1% YoY in constant currency.
- Operating Margin: Reported operating margin stood at 15.3%.
- Net Profit: Net profit declined 1.1% quarter-over-quarter (QoQ) but grew 9.2% YoY to ₹4,417 million.
- Earnings Per Share (EPS): EPS declined 1.2% QoQ but grew 8.5% YoY to ₹23.2.
Deal Wins
- Mphasis won significant deals with major companies, including:
- A leading Asset Services firm for Wealth & Investment Management Engineering Platform support leveraging AI.
- A large North American Life insurance company to consolidate ADMS vendors.
- A large US Financial Services company to enhance liquidity management through AI-driven solutions.
- A large Financial Services company to automate API discovery and optimize routing.
Awards and Recognitions
- Mphasis won the 2025 Cybersecurity Excellence Awards in the Identity and Access Management category.
- Mphasis won Innovation of the Year at the 2025 Flexera Technology Intelligence Awards for global software deployment and compliance workflow automation.
Analyst Positioning
- Mphasis was mentioned in Gartner’s Market Guide for U.S. Healthcare Provider Credentialing and Quality Engineering Services.
- Mphasis was featured in Forrester’s The AI Technical Services Landscape, Q2 2025.
- Mphasis was recognized as a Leader in Everest Group’s Group Life Insurance and Benefits Core Technology Products PEAK Matrix Assessment 2025 and Banking, Financial Services, and Insurance (BFSI) IT Services Specialists PEAK Matrix Assessment 2025.
