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Mphasis Q4 net profit rises 17% to Rs184 crore in FY17

LiveMint logoLiveMint 26-05-2017 PTI

New Delhi: IT company Mphasis on Friday reported a 17.6% increase in consolidated net profit at Rs184.1 crore for the period ended 31 March. The company had posted net profit of Rs156.5 crore in the same period a year ago. “We are witnessing good momentum in our sales pipeline and in next-generation services across direct core and DXC/HPE business.

The Blackstone portfolio companies offer us additional tailwinds to accelerate growth and we are on our execution path. Our size is our advantage; it gives us agility as well as scale to deliver,” Mphasis Chief Executive Officer and Executive Director Nitin Rakesh said. The company booked order of $365 million or about Rs2,300 crore in 2016-17, of which $90 million or around Rs500 crore worth orders were booked in January-March.

The gross revenue of the company declined by 2.9% to Rs1,473.2 crore during the reported quarter from Rs1,516.7 crore in the same period a year ago. For year ended 31 March, Mphasis posted 25.3% jump in its net profit at Rs791.6 crore compared to Rs631.5 crore at the end of 2015-16.

The gross annual revenue of Mphasis declined by 1.1% to Rs5,997.4 crore for 2016-17, compared to Rs6,066.9 crore at the end of previous fiscal. Shares of the company were trading at Rs581.95 a unit, up by 1.56% compared to previous close, at about 10.20 hours on BSE.

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