MphasiS' net up 18.3 p.c. to Rs 271 cr YoY

BANGALORE, INDIA: MphasiS Group's net profit stood at Rs 271 crore for the quarter ended 31 July 2010, up 18.3 percent from Rs 229 crore it registered during the corresponding quarter last year. Net was up 1.5 percent as against Rs 267 crore for the previous quarter ended 30 April 2010.

The company said in a press release that its consolidated revenue was at Rs 1,279 crore for the quarter as compared to Rs 1,106 crores in the same quarter last year displaying a growth of 15.7 percent. Revenue was up 4.8 percent compared to Rs 1,221 crore in the previous quarter.

Operating profit during the quarter under review was Rs 276 crore, up 14.5 percent over the same quarter last year. Operating margins stood at 21.5 percent for the quarter. EPS for the quarter was Rs 12.93, an increase of 18 percent over the same period last year.

For the nine months ended 31 July 2010, the group recorded revenues of Rs 3,691 crore, a growth of 17.9 percent compared to Rs 3,132 crores in the corresponding period of last year. During the same period, net profits increased by 21.6 percent to Rs 807 crore from Rs 664 crore.

“Now we have crossed over USD 250 million, quarterly revenue for three quarters in a row. As MphasiS, we are now transforming ourselves in preparation for the next lap of growth.” said Ganesh Ayyar, CEO MphasiS.

During the quarter ended 31 July 2010, the group added 22 new clients, including 16 through HP channel. This includes a Bank, a large Health care provider and clients from the manufacturing vertical.

This quarter, American Postal Workers Union (APWU) partnered with MphasiS to successfully implement JavelinaTM- MphasiS’ web based platform for the Healthcare segment. MphasiS has sold 4 JavelinaTM licenses so far.

The Group also added net headcount of 1,156 during the quarter making the headcount 38,275 as at 31 July 2010. Cash and Bank balances including short term investments in mutual funds stood at 1,487 crores as at 31 July 2010, showing an increase of 190 crore during the quarter.

MphasiS is a provider of applications services, remote management services and BPO services.