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Mphasis posts marginal rise in September quarter profit at ₹273.3 crore

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IT firm Mphasis on Friday reported a marginal rise in its consolidated net profit at ₹273.3 crore for the September quarter.

The company had posted a net profit of ₹270.9 crore in the year-ago period, Mphasis said in a regulatory filing.

Its revenue from operations increased 12.7% to ₹2,158.1 crore in the quarter under review from ₹1,914.8 crore in the July-September 2018 period, it added.

The company said it registered new deal wins of $174 million in its direct international business, of which 77% are in new-gen services.

Earnings per share (EPS) grew 4.7% year-on-year to ₹14.70.

There is accelerated demand for agility and nimbler solutions by our clients, to help reduce the technical debt that comes with legacy, Mphasis Chief Executive Officer and Executive Director Nitin Rakesh said.

“We have seen this trend being amplified and combined with the need for customer centricity with end consumers expecting highly personalised products and services. This has been a very fertile ground for companies with the right solutions and propositions in the enterprise world, he added.

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Printable version | Dec 13, 2019 9:18:29 AM | https://www.thehindu.com/business/mphasis-posts-marginal-rise-in-september-quarter-profit-at-2733-crore/article29980321.ece

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