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Mphasis crosses $1bn revenue mark

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CIOL Bureau
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BANGALORE, INDIA: IT and BPO services company Mphasis today said that its revenue for the financial year ended October 31, 2010 crossed the one billion dollar mark as it registered a revenue of US$ 1,093.

As per Indian GAAP the company posted fiscal year consolidated net profit of Rs.1,090.75 crore, which is 20 per cent higher than the profit of Rs 908.68 crore in the year ended October 31, 2009. Total Revenue has increased from Rs 4311.39 crore for the year ended October 31, 2009 to Rs 5145.32 crore for the year ended October 31, 2010.

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“This has been an important year for us. Having crossed $1 billion mark, Mphasis is now part of the Club of Indian IT Companies who have reached this important milestone, ” said Ganesh Ayyar, CEO, Mphasis.

He added that they are now preparing for their next phase of growth, with opportunities of a large company and yet retaining the soul and smile for a small company. Flexibility and customer centricity has always been an Mphasis hallmark and they intend to further intensify their customer.

During the quarter that ended 31 October 2010, Mphasis added 22 new clients. The group also added net headcount of 5, 330 during the year making the headcount 39, 962 as 31 October 2010. 

For the quarter ended October 31, 2010, the profit stood at the net profit stood at Rs. 284 crore or Rs.13.48 per share, up 16 per cent compared to the net profit of Rs. 245 crore in the year-ago quarter. Compared to the third quarter the net profit grew by 5 per cent. 

Net revenue for the quarter grew was up 19 per cent YoY at Rs.1,345.40 crore. In the year-ago quarter the revenue was Rs. 1,132.20 crore.

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