Mphasis posts profit at Rs 273.3 crores in Sept qtr

IT firm Mphasis on Friday reported a marginal rise in its consolidated net profit at Rs 273.3 crore for the September quarter.

The company had posted a net profit of Rs 270.9 crore in the year-ago period, Mphasis said in a regulatory filing.

Its revenue from operations increased 12.7 per cent to Rs 2,158.1 crore in the quarter under review from Rs 1,914.8 crore in the July-September 2018 period, it added.

The company said it registered new deal wins of USD 174 million in its direct international business, of which 77 per cent are in new-gen services.

Earnings per share (EPS) grew 4.7 per cent year-on-year to Rs 14.70.

There is accelerated demand for agility and nimbler solutions by our clients, to help reduce the technical debt that comes with legacy, Mphasis Chief Executive Officer and Executive Director Nitin Rakesh said.

"We have seen this trend being amplified and combined with the need for customer centricity with end consumers expecting highly personalised products and services. This has been a very fertile ground for companies with the right solutions and propositions in the enterprise world,” he added.