MphasiS posts 7.2 % rise in net profit at Rs208.74 crore
30 August 2012
Mid-sized outsourcer MphasiS, a subsidiary of world's leading personal computer manufacturer Hewlett Packard Co, posted a 7.2 per cent rise in net profit at Rs208.74 crore in its third quarter. The rise in net profit was on the back of improved operational performance.
The company had posted a net profit of Rs194.80 crore in the third quarter of last fiscal, it said in a statement. Mphasis, in which HP owns more than 60 per cent, follows November to October financial year.
"Throughout the past nine months we have been working at driving operational efficiency which has pushed the growth. Depreciation of rupee against the dollar also helped the revenues," MphasiS CEO Ganesh Ayyar said.
The impact of currency depreciation was "small because of the hedge plans in place", he added.
The company's revenues rose to Rs1,355.12 crore during the quarter under review, compared with Rs1,293.63 crore in the same quarter last year.
It direct business (non-HP business) revenues grew 48.3 per cent on a year-on-year basis and 12.6 per cent sequentially to Rs633 crore. The mix between direct and HP business improved to 45:55 in Q3 FY12, from 33:67 in the year-ago period.