Bengaluru-based IT services company, Mphasis, has reported a jump of 29.1% in its net profit for the quarter ended March 31, 2018.
The company clocked a net profit of Rs 237.7 crore for the quarter, compared with Rs 184.1 crore in the corresponding quarter last fiscal year. On the sequential basis, the company showed a jump of 10.6% in its net profit, from Rs 214.9 crore in the quarter ended December 31, 2017.
On a yearly basis, the company's profits grew by 5.8% to Rs 837.5 crore in FY 18, as against Rs 791.6 crore in the last year.
The revenue of the company grew by 15.8% to Rs 1,744.5 crore during the quarter, compared with Rs 1,505.9 crore in the corresponding quarter last fiscal year.
Though banking and capital markets remain the largest contributor to the company's revenues, with a contribution of 46%, yet IT, Communication and Entertainment segments' revenues grew by whopping 83% on a year-on-year basis.
The board of the company has recommended dividend of Rs 20 per equity share of Rs 10 each for the financial year ended March 31, 2018. The board has also approved the re-appointment of Narayanan Kumar as an independent director of the company for further term of five years effective April 1, 2019. Kumar is completing the existing term on March 31, 2019.