MphasiS rises on post Q3 earnings

EBIT margins expanded 50 bps in Q3FY13 to 16.7% despite of wage increments and promotions this quarter

MphasiS has moved higher by 4% at Rs 384 on reporting 10% quarter-on-quarter (qoq) growth in consolidated net profit at Rs 209 crore on the back of improved operational performance.

“Operating profits increased 4.7% sequentially to Rs 226 crore, while EBIT margins expanded 50 bps in Q3FY13 to 16.7% despite wage increments and promotions this quarter,” MphasiS said in a filing.

Consolidated revenues for the third quarter ended July 31, 2012 grew 2% at Rs 1,355 crore on qoq basis.

The stock opened at Rs 367 and hit a low of Rs 387 on the NSE. The counter has seen over three-fold jump in trading volumes with a combined 317,720 shares having changed hands on the counter so far on both the exchanges.