MphasiS FY08 revenues up 38%, Net profits up 42%

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MphasiS FY08 revenues up 38%, Net profits up 42%

MphasiS Group recorded revenues of Rs 2,423 crores a growth of Rs 662 crores, which is 38% over the previous year. Net profit increased by 42% from Rs 180 crores to Rs 255 crores during the year ended 31 March 2008.

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For the year ended 31 March 2008, the MphasiS Group recorded revenues of Rs 2,423 crores a growth of Rs 662 crores, which is 38% over the previous year. Net profit increased by 42% from Rs 180 crores to Rs 255 crores during the year ended 31 March 2008.

The Board of Directors has recommended a final dividend of Rs. 3.30 per share for the year 2007-08.

Consolidated revenues at Rs 658 crores in the current quarter have increased by 31% over the same quarter last year. During the same period net profit increased by 14% from Rs 63 crores to Rs 71 crores.

The Group recorded a consolidated net profit of Rs 71 crores for the quarter ended 31 March 2008, compared to a net profit of Rs 66 crores in the quarter ended 31 December 2007, representing an increase of 8%. Revenues grew by 4% from Rs 632 crores in the quarter ended 31 December 2007 to Rs 658 crores in the quarter ended 31 March 2008.

Commenting on the results Jeya Kumar, CEO, said "This fiscal has been one of change & transformation. With EDS as a strong business partner, the Company has been building a solid foundation for development of capability and capacity. Our leadership team is coming to shape and our employee strength continues to grow with over 27,000 people currently.

We are expanding aggressively and we continue to add new domain specific services to our portfolio to map the demands of the customer".

During the quarter, the Group added 17 new clients. These include a US based manufacturing company, a technology company in Europe and a US based retail company in Application services and a banking company in Asia Pacific region in BPO services.

This quarter the Group recorded a net headcount increase of 811 to take the total manpower numbers to 27,047. Overall debtors days have marginally increased to 43 days and the Group had a cash reserve of Rs 95 crores as at 31 March 2008. Blended billing rates remained steady. 

Sourced From: R&PM:Edelman