Mphasis' September quarter net slips 4% to Rs 197 cr

Mphasis reported 4.3 per cent decline in net profit to Rs 197.6 crore for the July-September quarter. The mid-size IT services firm's revenues grew 5.7 per cent to Rs 1604.7 crore during the period. The company posted net profit of Rs 206.7 crore on revenues of Rs 1517.6 crore during the corresponding period last year.

Mphasis saw impact of depreciation of Indian rupee against US dollar in revenue.

The company's direct core revenue grew 7.2 per cent year-on-year, while HP-DXC revenues grew 14.3 per cent.

It has seen significant deal wins in the digital and new service areas. "Growth was led by sustained traction in the HP-DXC business and operating margins improved by 64 basis points sequentially at 14.4 per cent on improved utilization and better pricing realizations in onsite delivery," said analysts at Emkay Global Financial Services.

Mphasis board has appointed Eric Winston as Executive Vice President, General Counsel and Chief Ethics & Compliance Officer and Subramanian Narayan as Company Secretary. In another change at the helm, Sundar Subramanian joined as President & Head - Global Delivery and he would take over from Gopinathan P, who retires in January 2018.