Mphasis soars on strong quarterly earnings

DALAL STREET SPIKES

Mphasis jumped 7.83 per cent to close at Rs 210.10 after reporting a 54 per cent year-on-year (yoy) increase in consolidated net profits to Rs 79 crore, on a 40 per cent yoy rise in revenues to Rs 742 crore in Q1 FY09. The company announced the results on July 26 (Saturday).

Sequentially, earnings and revenues grew by 10.6 per cent and 12.9 per cent respectively. The stock hit an intraday high of Rs 213.50 and a low of Rs 192. The counter witnessed volumes of 2,80,431 shares, which is about twice the two-week average.