Mphasis reports Jul-Sept quarter net profit at Rs 160.2 crore

HP-owned IT services firm Mphasis today reported a net profit of Rs 160.20 crore for the quarter ended September 30, 2014.

This is against a profit of Rs 190.22 crore for the quarter ended October 31, 2013.

The company's revenue stood at Rs 1,464.87 crore in the quarter under review as against Rs 1,594.03 crore in the corresponding period.

Mphasis has changed its financial year from October 31 to March 31 and therefore the numbers are not comparable.

Its direct organic business revenue in mature markets recorded a sequential growth of 2.5 per cent in Q2 FY15. Direct business stood at 64 per cent of consolidated net revenues in the said quarter.

During the quarter, it won new deals with total contract value of $65 million.

"We continue to see good traction in our direct organic business. Our focus on GRC, Digital and AMS is paying off," Mphasis CEO Ganesh Ayyar said.

The banking and capital market segment contributed Rs 611.4 crore to the quarter's revenues, while insurance accounted for Rs 194.79 crore.

IT, Communication and Entertainment vertical contributed Rs 246.79 crore and Emerging Industries segment accounted for Rs 406.11 crore of the quarter's revenues.