Mphasis to lose FedEx business accounting for 8% of total revenue | Company Business News

Mphasis, a leading IT services company based in Bengaluru, is set to lose a significant client as FedEx plans to terminate its business relationship by the end of the year. This decision comes after a ten-month transition period, giving both parties time to adjust operations smoothly. The loss is notable, as FedEx accounts for approximately 8% of Mphasis's total revenue, highlighting the impact this change could have on the company's financial landscape. The decision by FedEx to end the partnership is part of a strategic realignment of its IT services, though specific reasons for the shift have not been publicly detailed. Mphasis, known for its strong capabilities in cloud and cognitive services, will now need to refocus efforts on expanding its client base to mitigate the financial impact. The company has expressed confidence in its ability to adapt and continue its growth trajectory by leveraging its expertise and exploring new market opportunities. Analysts suggest that while the immediate revenue loss poses a challenge, Mphasis has the potential to recover by capitalizing on emerging technologies and sectors. The transition period has provided the company with a window to strategize and bolster its portfolio, ensuring it remains competitive in the ever-evolving IT landscape. Investors and stakeholders will be closely monitoring Mphasis's next moves as it navigates this significant shift in its business operations.

— Authored by Next24 Live