Mphasis announces Q2 results, net profit up 19 percent

By SiliconIndia   |   Thursday, 27 May 2010, 09:46 Hrs
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Bangalore: Mphasis, an IT solutions, services and BPO provider, has announced its quarterly results with a higher net profit for the second quarter. It has reported rise in its revenue to 1,220 crores at a growth of 16.4 percent for the quarter ended 30 April, 2010 as compared to 1,048 crores in the same quarter last year. The company's net profit increased by 19.2 percent from 224 crores to 267 crores.

With a growth of 21.3 percent over the same quarter last year, the company's operating profit increases to 274 crores. Earning per share (EPS) for the quarter was 12.73, an increase of 18.5 percent over the same period last year. Operating and net margins for the quarter ended 30 April, 2010 were 22.5 percent and 21.9 percent respectively. Consolidated revenue of Mphasis for the second quarter was 1,220 crores with an increase of 2.4 percent compared to 1,192 crores in the previous quarter.

During the quarter, the Group added 22 new clients, including a large pharmaceutical company and an aircraft manufacturing company. The company also added 1,429 employees during the quarter and has reached at a total of 37,119 employees.

The company's Cash and Bank balances, that include short term investments in mutual funds, stood at 1,297 crores, with an increase of 133 crores from the beginning of the quarter.

Expanding its presence in the ROM services market, Mphasis has acquired Fortify Infrastructure Services, a global provider of offshore based Remote IT Operations and Management (ROM) Services this quarter. Adding to it, the company is selected by TD Ameritrade, a provider of securities brokerage services and technology-based financial services, to support some of its non-client facing services.

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