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Mphasis net profit for November-March at Rs302.68 crore

LiveMint logoLiveMint 15-05-2014 PTI

New Delhi: Hewlett-Packard (HP)-owned information technology (IT) services firm Mphasis Ltd on Thursday said its consolidated net profit stood at `302.68 crore for the five months ended 31 March 2014.

The Bangalore-based firm has changed its financial year from 31 October to 31 March, and consequently, the results represents results of five months of operations (November to March). Consolidated net sales for the country’s sixth largest IT services firm stood at `2,593.83 crore in the November-March period.

“We are seeing excellent traction within our customer base. Our intense focus on customer delight and specialisation is yielding results,” Mphasis chief executive officer Ganesh Ayyar said. “We have a very strong pipeline and are more bullish than ever before,” he added.

In the February-April 2013 quarter, the company’s net profit stood at `176.54 crore, while net sales stood at `1,405.42 crore.

During the reported five months, the banking and capital market segment contributed `1,090.68 crore; emerging industries `785.95 crore; IT, communication and entertainment `425.56 crore and insurance `330.41 crore.

The company’s board has recommended a dividend of `7 per share for FY14.

The Americas region accounted for 74% of the revenues, followed by Europe, the Middle East and Africa (EMEA) at 13%, India at 7% and the rest of the world at 6% for the five months ended March 2014. While the company did not disclose its net additions for the stated period, its total headcount stood at 35,666 people for the two months ended March 2014. This is lower in comparison to 35,889 people for the three months ended January 2014.

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