कोशिश गोल्ड - मुक्त
Losing FedEx business may trim 8% of Mphasis revenue
Mint Kolkata
|June 02, 2025
FedEx will end its business arrangement with the Bengaluru-based IT firm by the year-end
Mphasis Ltd has lost one of its oldest clients, which accounted for 8% of the revenue of India's seventh-largest information technology services firm, after FedEx Corp. selected Accenture Plc to do much of its IT work. This loss presents a fresh challenge for CEO Nitin Rakesh to replace the loss in business in a challenging economic environment.
Three people familiar with the development said FedEx, which accounted for $130 million of Mphasis's $1.61 billion in revenue for the year ended March 2024, will end its business arrangement with the Bengaluru-based IT firm by the end of the year after a ten-month transition period.
At its peak in FY2024, FedEx accounted for $35 million of Mphasis's revenue in a quarter; business from the logistics giant is expected to be naught by the end of 2025.
यह कहानी Mint Kolkata के June 02, 2025 संस्करण से ली गई है।
हजारों चुनिंदा प्रीमियम कहानियों और 10,000 से अधिक पत्रिकाओं और समाचार पत्रों तक पहुंचने के लिए मैगज़्टर गोल्ड की सदस्यता लें।
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