Mphasis Q2 net profit up 37 pc to Rs 271 cr

IT company Mphasis Friday reported 37 per cent jump in consolidated net profit at Rs 271 crore for the quarter ended on September 30, 2018, compared to the year-ago quarter.

The company had registered a net profit of Rs 197.6 crore in the year-ago period, it said in a statement.

Total income of Mphasis increased by 19.5 per cent to Rs 1,962.4 crore during the reported quarter from Rs 1,642.2 crore in the corresponding quarter of 2017-18.

"We are pleased with the health of our pipeline and continued strong execution across multiple sectors especially in New Gen Services, Nitin Rakesh, the chief executive officer and executive director of Mphasis, said in a statement.

The company in September ended quarter won contracts worth Rs 1,485.96 crore, of which 77 per cent were for new generation services, according to the statement.

Shares of the company, however, were trading down by 4.27 per cent at Rs 1,075.15 on BSE whose benchmark index Sensex plunged 1.21 per cent.