Mphasis posts Rs 302.68 cr net profit for five months ended March

Company changes financial year to April-March from November-October

 

Mid-sized information technology (IT) services company Mphasis today posted a consolidated net profit of Rs 302.68 crore for the five months ended March 31, 2014, while the consolidated revenue during the period was at Rs 2,593.8. crore.

Earnings for the five months are not comparable to an earlier period, as the Bangalore-based company has booked a five-month financial year from November 1, 2013 to March 31, 2014. The same has been done as the company has change its financial year from November-October to April-March.

Mphasis, which is owned by technology major Hewlett-Packard, gets a significnt part of its business through the parent. However, it has continued to succeed in growing its direct-channel (non-HP) business over the past few years. In line with the same, in February-March 2014, Mphasis' direct channel sales made for 64 per cent of its total revenue, with HP-channel contributing only 36 pr cent. In a year ago period, HP-channel made for 46 per cent of the company's revenues.

"We are seeing excellent traction within our customer base. Our intense focus on customer delight and specialisation is yielding results." said Ganesh Ayyar, chief executive officer of Mphasis.