Mphasis Q4 net profit up 29% at Rs 237 cr

IT firm Mphasis today posted a 29.1 per cent jump in its consolidated profit after exceptional items at Rs 237.7 crore in the three months to March 31, 2018.

The company posted a profit of Rs 184.1 crore in the same period a year ago.

Financial Year 2018 has been a break-out year for Mphasis in terms of growth. Our efforts to leverage solution-led' approach at scale is showing results. We have been able to partner with our clients in their digital transformation initiatives Nitin Rakesh, chief executive officer and executive director, Mphasis, said in a statement.

The gross revenue of the company increased by 15.6 per cent to Rs 1,703.3 crore in the January-March 2017 period compared to Rs 1473.2 crore it registered in the corresponding quarter of 2016-17.

For the year ended March 31, 2018, net profit of the company increased by 5.8 per cent to Rs 837.5 crore from Rs 791.6 crore it posted at the end of 2016-17.

The gross revenue of Mphasis increased by 6.3 per cent to Rs 6,377.5 crore from Rs 5,997.4 crore during the financial years under review.

Mphasis board of directors recommended a dividend of Rs 20 per share for fiscal year 2018.