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Mphasis Q1 Net Profit Up 38% To Rs 204 Crore
IT company Mphasis has posted a 38 per cent rise in consolidated net profit at Rs 204.3 crore for the first quarter ended June 30, 2016
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IT company Mphasis has posted a 38 per cent rise in consolidated net profit at Rs 204.3 crore for the first quarter ended June 30, 2016.
The company's income from operations rose 1.5 per cent year-on-year to Rs 1,516.6 crore in June quarter.
Terming the first quarter as being a good start, Ganesh Ayyar, CEO of Mphasis said, "Our sustained focus on hyper specialisation and new generation services is yielding strong results."
"FY2016 was a banner year for Mphasis; we outlined our strategic roadmap to address growth and profitability of the company," Ayyar said in a statement.
The company said that direct international revenue grew 14.7 per cent year-on-year and 1.4% sequentially.
"Robust deal wins continue with $96 million TCV (Total Contract Value) in direct international business of which 75 per cent are in new generation services," it added.
(PTI)