Mphasis Q3 PAT up 9% QoQ to Rs 326 crore

The IT company reported 8.8% rise in consolidated net profit to Rs 325.53 crore on a 1.6% increase in net sales to Rs 2474.39 crore in Q3 FY21 over Q2 FY21.

On a year-on-year basis, the company's net profit and net sales improved 10.9% and 8.7%, respectively.

Profit before tax in Q3 December 2020 stood at Rs 426.60 crore, up by 5.6% from Rs 403.82 crore in Q2 September 2020. Current tax expenses declined by 12.9% quarter-on-quarter (QoQ) to Rs 89.49 crore.

Direct revenue grew 5.1% QoQ and 23.7% YoY on a reported basis. In constant currency, revenue grew 5.3% QoQ and 19.0% YoY. The company said it has registered $247 million worth of total contract value (TCV) wins in direct international business, of which 71% were in new-generation services.

Nitin Rakesh, chief executive officer and executive director, Mphasis, said: "We are pleased with the results in a seasonally weak quarter and remain enthusiastic about our pipeline. As a client centric organization, we continue to stay obsessed with each customer's individual agenda. We are focused on staying consistent with our performance while continuing to keep our clients' transformation needs at the centre of our strategy and execution."

Mphasis applies next-generation technology to help enterprises transform businesses globally.

The scrip shed 0.77% to Rs 1587.55. It traded in the range of 1523.90 and 1615.15 so far during the day.

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