Mphasis profit rises 8.8% to Rs 325.6 crore in December quarter

IT firm Mphasis on Thursday reported consolidated financial results for the quarter ended December 31, 2020, and posted an 8.8 per cent QoQ rise in consolidated net profit to Rs 325.6 crore for the December 2020 quarter. The company has posted a net profit of Rs 299.2 crore in the previous quarter ended September 30, 2020. The company's net profit stood at Rs 293.6 crore in the year-ago period.

Consolidated revenue from operations grew 1.6 per cent to Rs 2,474.3 crore in the reported quarter against Rs 2,435.4 crore posted in September quarter. It posted a revenue of Rs 2,276.7 crore a year ago.

EBIT stood at Rs 404.8 crore, up 3.2 per cent from Rs 392.4 crore reported in the previous quarter. The margin grew marginally to 16.4 per cent in Q3FY21 against 16.1 per cent posted in Q2FY21.

The company said it has registered USD 24.7 crore worth of total contract value (TCV) wins in direct international business, of which 71 per cent were in new-generation services. Mphasis earnings per share (EPS) grew 10.7 per cent year-on-year to Rs 17.44.

Mphasis CEO and Executive Director Nitin Rakesh said, "We are pleased with the results in a seasonally weak quarter and remain enthusiastic about our pipeline."

As a client-centric organisation, Mphasis continues to stay obsessed with each customer's agenda, he added.

"We are focused on staying consistent with our performance while continuing to keep our clients' transformation needs at the centre of our strategy and execution," he said.