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MphasiS’ consolidated revenue for Q3 up 9.6 pc QoQ to Rs 1,540 cr

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Harmeet
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BANGALORE, INDIA: MphasiS, India's sixth largest IT services firm, announced audited financial results for third quarter ended July 31, 2013. Consolidated revenues for the third quarter was Rs 1,540 crore, up by 9.6 percent QoQ. Net profit stood at Rs 193 crore, up 9.1 percent QoQ.

Financial highlights for the quarter

* Share of direct business grew from 54 percent to 59 percent, further mitigating risk of client concentration.

* 16 clients were added in the quarter with 10 in the direct channel.

* Net profit for the quarter grew 9.1 percent QoQ to Rs 193 crore, despite a 160 bps increase in effective tax rates to 26.7 percent.

* Operating margins for the quarter expanded 110 bps to 15.8 percent, despite the impact of wage hikes that were administered during the quarter.

* Cash and cash equivalents increased by Rs 348 crore during the quarter to reach Rs 2,688 crore.

* EPS for the quarter stood at Rs 9.2 as against Rs 8.4 in Q2.

Ganesh Ayyar, CEO, MphasiS, said: "Our direct business growth is a reflection of our strategy in action. Our investment in data, analytics and mobility is experiencing growing demand."