MphasiS Q3 PAT dips, but says it's been a satisfactory qtr

IT major MphasiS consolidated profit for the third quarter fell 10% to Rs 195 crore versus Rs 217.3 crore, on quarter-on-quarter (QoQ) basis. However, its consolidated revenue was up 3% at Rs 1,294 crore versus Rs 1,257.1 crore, QoQ.

Talking about the numbers, chief executive officer, Ganesh Ayyar and chief financial officer, Ganesh Murthy said the direct business grew 2.9% (QoQ), while we added USD 37 million to cash flows during the quarter. However, there was a decline seen in HP business. "We have delivered a satisfactory quarter," they told CNBC-TV18's Udayan Mukherjee and Mitali Mukherjee. However, there was a decline seen in HP business, they said adding, that the one-offs were due to operational part of business and that the company was taking steps to lower operational one-offs. "Our EBIT margins stand at 16% as against 16.5% (QoQ). We have adjusted these, excluding one-offs at 12.5%," the duo said. The unit of Hewlett-Packard Co, MphasiS is in the process of acquiring US-based Wyde and the management says it will be done in the next two weeks. Also read: MphasiS Q3 cons net profit down at Rs 195cr For complete presser, watch the videos.