New Delhi: IT firm Mphasis on Thursday reported a 7.2 per cent increase in consolidated net profit at Rs 173.6 crore for the quarter ended December.
The company had posted a net profit of Rs 161.9 crore for the corresponding period a year ago, it said in a filing to the BSE.
Net sales for the quarter under review stood at Rs 1,516.7 crore, up 7.5 per cent, from Rs 1,410.7 crore in the year-ago period.
Banking and capital markets accounted for Rs 751.6 crore, while insurance, IT, communications & entertainment, and emerging industries contributed Rs 237.4 crore, Rs 151.1 crore and Rs 372 crore, respectively.
The company said it won $61 million TCV (total contract value) worth of deals in direct international business.
Its direct international business grew 3.1 per cent quarter-on-quarter and 32 per cent year-on-year.
"The entire industry is witnessing a change in demand patterns. Digital revolution would necessitate organisations to innovate and socialise. We are enjoying the benefits of our transformation towards hyper-specialisation and customer focus," said Ganesh Ayyar CEO Mphasis.
The company's productivity improvement plan has provided stellar impact despite 160 basis points impact from wage hike, Mphasis CFO and executive vice-president V Suryanarayanan said.
The stock of the company closed 3.88 per cent up at Rs 450.75 apiece on the BSE, whose benchmark Sensex index finished 0.48 per cent higher.
In a separate statement, Mphasis clarified media reports that said the company is not involved in any negotiations for potential acquisition by private equity firms Blackstone and Apollo Global Management.
The company had posted a net profit of Rs 161.9 crore for the corresponding period a year ago, it said in a filing to the BSE.
Net sales for the quarter under review stood at Rs 1,516.7 crore, up 7.5 per cent, from Rs 1,410.7 crore in the year-ago period.
Banking and capital markets accounted for Rs 751.6 crore, while insurance, IT, communications & entertainment, and emerging industries contributed Rs 237.4 crore, Rs 151.1 crore and Rs 372 crore, respectively.
The company said it won $61 million TCV (total contract value) worth of deals in direct international business.
Its direct international business grew 3.1 per cent quarter-on-quarter and 32 per cent year-on-year.
"The entire industry is witnessing a change in demand patterns. Digital revolution would necessitate organisations to innovate and socialise. We are enjoying the benefits of our transformation towards hyper-specialisation and customer focus," said Ganesh Ayyar CEO Mphasis.
The company's productivity improvement plan has provided stellar impact despite 160 basis points impact from wage hike, Mphasis CFO and executive vice-president V Suryanarayanan said.
The stock of the company closed 3.88 per cent up at Rs 450.75 apiece on the BSE, whose benchmark Sensex index finished 0.48 per cent higher.
In a separate statement, Mphasis clarified media reports that said the company is not involved in any negotiations for potential acquisition by private equity firms Blackstone and Apollo Global Management.
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