Mphasis Sep qtr net slips 4.4 pc to Rs 198 cr

IT firm Mphasis today said its consolidated net profit declined 4.4 per cent to Rs 197.7 crore (after exceptional item) for the quarter ended September 30, 2017.
This is against net profit (attributable to equity owners) of Rs 206.8 crore in the year-ago period, the company said in a BSE filing.
The company had reported an exceptional item of Rs 5.8 crore in the September 2016 quarter, it added.
Its revenue from operations, however, was up 5.7 per cent to Rs 1,604.7 crore for the quarter under review from Rs 1,517.6 crore in the July-September 2016 quarter, it said.
"In the midst of the technology macro shifts, we believe Mphasis has found the sweet spot in the digital space with a unique combination of cloud and cognitive based solutions," Mphasis CEO Nitin Rakesh said.

He added that these solutions are helping clients integrate front and consumer facing technologies with core back-end IT systems and infrastructure.

Mphasis said its direct core revenue grew 7.2 per cent year-on-year during the reported quarter.
The company said it saw robust deal wins of USD 123 million total contract value (TCV) in direct international business, of which 72 per cent were in focus areas of digital, NextGen and Governance, Risk and Compliance (GRC).
Mphasis has appointed Eric Winston as Executive Vice President, General Counsel and Chief Ethics and Compliance Officer with immediate effect.
Subramanian Narayan has been named Company Secretary with effect from November 1, replacing A Sivaram Nair. He will report to Winston.

Nair, who was serving as the EVP, Company Secretary, General Counsel and Ethics Officer, has resigned from the company, effective October 31.
Also, Sundar Subramanian is joining the company as President and Head (Global Delivery), taking over the role from Gopinathan P, who retires in January 2018, Mphasis said.
Mphasis shares closed at Rs 672.20 apiece, down 4.32 per cent on the BSE.