MphasiS' net profit up by 127.7 percent in Q3

MphasiS' net profit up by 127.7 percent in Q3

By SiliconIndia   |    6 Comments
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Bangalore: In the quarter ended July 31, 2009, the MphasiS Group's (MPHASIS.NS) net profit increased by 127.7 percent from 100.7 crores to 229.2 crores. During the same period, company's consolidated revenue was at 1,105.6 crores as compared to 776 crores in the same quarter last year registering a growth of 42.5 percent.

For the nine months ended July 31, 2009, the company recorded revenues of 3,131.7 crores, a growth of 50.4 percent compared to the corresponding period of last year. During the same period, net profits increased by 436 crores or 191.4 percent from 227.7 crores to 663.7 crores.

Ganesh Ayyar, Chief Executive Officer, MphasiS said, "Through the quarter, we stayed on course, ensuring operational excellence and building capabilities in tune with customer requirements. Our recent agreement to acquire AIG Solution System Solutions (AIGSS), is in line with our decision to have greater depth and breadth in focused verticals such as insurance. We will continue our drive to add greater value to our customers by leveraging on all three lines of business; infrastructure, applications and BPO (Business Process Outsourcing)."

During the quarter, the group added seven clients across verticals including a leader in consumer products, a healthcare services provider and an established telecom provider.The company's headcount stood at 32,753 as at 31 July 2009. Cash and Bank balances including short term investments in liquid mutual funds increased to 649.9 crores.

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Reader's comments(6)
1: Good news. But what about the employee satisfation.
Posted by:Sam - 21 Aug, 2009
2: Nice post very well info written here, thanks for sharing the same here.
Posted by:Tag44 - 20 Aug, 2009
3: Atleast now give me my much needed salary hike !
Posted by:Akash - 20 Aug, 2009
4: Good show MphasiS. You are making India a global force to reckon with....Hope you get the best out of the deal...
Posted by:Mayank Sahay - 20 Aug, 2009
5: Even after such kind of profit, they don't want to treat their employees rationally in terms of Industry Standard salary, and clear policies.
Forget that, they try selling hand sanitizers to the employees as a precaution against H1N1 infection.

They say, Integrity, Honesty and Transparency as their values. And when the Voice of Employee dips below the cut-off of company's 60 percent standard, they want reasons.

Now you know how consistent this Profit can be.
Posted by:Rohit - 20 Aug, 2009
I completely agree with you Rohit. They deferred giving hikes and inturn it bloated the company profits.
Akash Replied to: Rohit - 20 Aug, 2009