Mphasis Q2 net up 2-fold at Rs 141 cr

BPO company Mphasis today announced a consolidated net profit of Rs 141.09 crore for the second quarter ended September 30, a two-fold growth over the corresponding period a year ago.

The firm had a net profit of Rs 66.31 crore in the second quarter of FY'08, Mphasis said in a filing to the Bombay Stock Exchange.

The total income rose by 42.37 per cent to Rs 851.41 crore for the quarter under review, from Rs 598.02 crore in the year-ago period.

On a standalone basis, the software and outsourcing services firm reported a net profit of Rs 112.7 crore for the September quarter, a two-fold growth against Rs 49.27 crore in the same period a year-ago.

The standalone total income was Rs 659.33 crore for the quarter under review, against Rs 412.41 crore in the corresponding period a year-ago.

In August, technology firm Hewlett-Packard had acquired Electronic Data Systems (EDS), the parent firm of Mphasis, at a price of 25 dollars per share, or an enterprise value of about 13.9 billion dollars.

Pursuant to the acquisition Mphasis has become a subsidiary of HP.

Further, the board has also approved the change of financial year of the company to November-October 31, commencing from November 1, 2008.

As such, the current financial period would be closed on October 31, 2008, the filing added.