MphasiS registers Rs 141 cr net profit in Q2

MphasiS registers Rs. 141 cr net profit in Q2

Year-on-year revenue up 39 per cent; second consecutive quarter with record EPS growth

Friday, October 17, 2008

BANGALORE,INDIA: EDS company MphasiS Group today registered a net profit of Rs. 141.1 crore for the quarter ended 30 September 2008.

This shows an increase of 112.8 per cent over the net profit of Rs. 66.3 crore for the corresponding quarter in 2007. The net profit in the quarter ended 30 June 2008 was Rs. 79.0 crore.

The same for the half-year ended 30 September 2008 grew by 87.1 per cent to Rs. 220.1 compared to Rs. 117.6 crore during the first half of the previous FY.

The consolidated revenue for the quarter was Rs. 836.1 crore, which showed a YoY increase of 39 per cent. In keeping with these results, MphasiS reported the highest ever EPS in the group’s history of Rs.. 6.76 beating the earlier highest in the last quarter by 78.4 per cent, said a press release.

Operating profit also registered an increase of 79.2 per cent to Rs. 132.4 crore during the quarter, from Rs. 73.9 crore in the corresponding quarter a year ago.

While the sequential quarter revenue grew 12.6 per cent compared to revenue of Rs. 742.2 crore in the quarter ended 30 June 2008, operating profit for the quarter increased by 58.5 per cent to Rs. 132.4 crore, the release added.

For the half year ended 30 September 2008 the Group recorded revenues of Rs. 1,578.3 crore, a growth of 39.3 per cent over the Rs. 1,133.3 crore recorded in the same period last year.

“We have completed another good quarter retaining our existing accounts and actively pursuing new business. Our efforts to maintain operational efficiencies are continuing as planned,” said Jeya Kumar, CEO MphasiS.

“We are leveraging technology at the workplace and accelerating the pace of customer innovation to create our next growth wave. Having two consecutive quarters of record EPS growth comes through alignment, focus and relentless execution by our team and support from our valued customers.”

With the merger of EDS into HP, MphasiS has a stronger partner to go to market and create larger opportunities, he observed.

During the quarter the group added 20 new clients including 15 relationships through EDS, an HP Company. These include clients in manufacturing and retail and banking and financial service verticals.

©CyberMedia News

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