MphasiS revenue grows 41 p.c. in Q2  

BANGALORE: The MphasiS Group consolidated revenues at Rs 602 crores in the current quarter ended 30 September 2007 have increased by 41 per cent over the same quarter last year.

During the same period net profit increased by 81 per cent from Rs 36.6 crores to Rs 66.3 crores. Operating profit during the quarter ended 30 September 2007 was Rs 73.8 crores as against Rs 48.3 crores in the year ago quarter – a growth of 53 per cent.

Consolidated revenues for the quarter ended 30 September 2007 grew 13 per cent compared to revenues of Rs 531 crores in the quarter ended 30 June 2007, despite an appreciation in the Indian Rupee. Net profit for the quarter increased to Rs 66.3 crores for the quarter ended 30 September 2007 as against Rs 51.3 crores in the quarter ended 30 June 2007.

For the half year ended 30 September 2007 the Group recorded revenues of Rs 1,133 crores, a growth of 41 per cent over the Rs 802 crores recorded in the same period last year. Profit for the half year ended 30 September 2007 grew 70 per cent to Rs 117.6 crores as against Rs 69.2 crores during the first half of the previous fiscal.

Commenting on the results Jerry Rao, Chairman, said:  “We have completed another good quarter and have moved into the next level. We are also becoming a significant player in the Remote Infrastructure Management space where our business has been growing rapidly and we have close to 3,000 people. We are also able to make significant investments in both resources and infrastructure as we have a better visibility in our business model.”

During the quarter the Group added twelve new clients including nine relationships through EDS. The Group now has 86 clients with an annualized run rate of more than a million dollars including 7 clients in excess of $ 20 million.

This quarter the group recorded a headcount increase of 1,146 in application services, 731 in BPO and 131 in ITO to take the manpower numbers for the Group to 24,078 – an increase of 2,008 over the 22,070 as at 30 June 2007. These include the employees of the erstwhile EDS India.

Overall debtors days have remained steady at 42 days and the Group had a healthy cash reserve of Rs 162 crores as at 30 September 2007.

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