Mphasis' Q2 net grows 19% to Rs 267 cr

IT major Mphasis today said its consolidated net profit after tax grew by 19.08 per cent to Rs 267.28 crore in the second quarter ended April 30, over the corresponding period a year ago.

The company had a consolidated net profit after tax of Rs 224.45 crore in the same period last fiscal, Mphasis said in a filing to the Bombay Stock Exchange (BSE).

"We continued the growth momentum this quarter. Market coverage and go-to-market investment continues to receive our attention. Our customer acquisition was well balanced both through our HP partnership and direct sales efforts," said Ganesh Ayyar, CEO of Mphasis.

Consolidated revenue increased to Rs 1,220.50 crore in the quarter under review from Rs 1,048.47 crore in the same period last year.

For the half-year period ended April 30, consolidated net profit after tax rose to Rs 535.55 crore from Rs 434.47 crore in the previous year.

Consolidated revenue for the six-month period under review jumped to Rs 2,412.06 crore from Rs 2,026.13 crore in the same period last fiscal.

For the April quarter, standalone net profit after tax climbed up to Rs 259.18 crore from Rs 192.90 crore in the same period previous year.

Standalone revenue jumped to Rs 973.38 crore in the quarter under review from Rs 836.19 crore in the same period last fiscal.

During the April quarter, the group added 22 new clients, including 14 through the HP Channel. These include a large pharmaceutical company and a company engaged in manufacturing for the aircraft industry, it said.

The group added net headcount of 1,429 during the quarter. Its headcount stood at 37,119 as of April 30, it said.

Shares of the company closed at Rs 620, down 1.60 per cent from the previous close, on the BSE.