MphasiS Q3 net dips 28% to Rs 194 cr

IT firm MphasiS today reported a decline of 28% in consolidated net profit at Rs 194 crore for the third quarter ended July 31.

The company had a net profit of Rs 271 crore during the May-July quarter last year, MphasiS said in a filing to the Bombay Stock Exchange (BSE).

Revenues of the company rose to Rs 1,293 crore during the quarter under review, against Rs 1,279 crore in the same period a year ago.

"Uncertainty in the external market requires a company that is adaptive. That is exactly what we did in 2009. MphasiS stayed close to customers with sustained focus on augmenting value. That will be our Mantra," MphasiS Chief Executive Officer Ganesh Ayyar said.

 

On the standalone basis, the company reported a net profit of Rs 217.69 crore, down 9.57% over the same period last year.

During the quarter, 27 clients were added, with 18 of them being in the direct channel, the filing said.

Shares of MphasiS today settled at Rs 395.75, up 1.87% from previous close, on the BSE.