Mphasis appoints Aravind Viswanathan as CFO

Aravind Viswanathan succeeded Manish Dugar, who stepped down as chief financial officer (CFO) to pursue career outside the organisation.

The IT solutions provider said that its board has approved the appointment of Aravind Viswanathan as the CFO of the company effective from 16 August 2024.

Viswanathan has extensive global leadership experience including shareholder value creation, mergers and acquisitions, financial and strategic planning and budgeting corporate governance.

In his most recent role, he was the CFO of Tanla Platforms, a listed leading CPaaS player in India, since April 2021. Prior to this, he spent 19 years at Wipro, where he was responsible for handling Business Finance for the strategic business units, financial planning & analysis and order to cash processes. Before which, he was the corporate treasurer and vice president investor relations. Viswanathan is an alumnus of Indian Institute of Management Bangalore, where he completed his Post Graduate Diploma in Management and holds a Bachelor of Commerce from University of Madras.

As Mphasis continues to build momentum with their new gen tech-driven growth strategy, I will be focused and committed on delivering on our short- and longer-term financial objectives, Viswanathan said.

Meanwhile, Manish Dugar resigned as CFO of the company to pursue career outside the organisation. He will be available for transition support, until end of the quarter.

Mphasis is an information technology (IT) solutions provider specializing in cloud and cognitive services.

The company's consolidated net profit grew 2.87% to Rs 404.51 crore in Q1 FY25 as compared with Rs 393.22 crore in Q4 FY24. Revenue from operations rose marginally to Rs 3,422.46 crore in Q1 FY25 as against Rs 3,412.05 crore posted in Q4 FY24.

Shares of Mphasis jumped 7.17% to close at Rs 2,911.65 on Friday, 16 August 2024.

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