Decline in HP biz has probably come to a halt, says Mphasis CEO

Shares of Mphasis dipped nearly 3 percent after reporting a lacklustre quarterly performance. The CEO & ED Ganesh Ayyar tells CNBC-TV18 that the decline in Hewlett-Packard (HP) business has come to a halt.

The company’s revenue for the second quarter were down marginally to Rs 1,500 crore even though margin and profit improved fractionally.

"The decline probably has come to a halt. It is related to one client. So, if I ring-fence that one client, we have seen overall growth," he says, adding, this client wanted to optimise costs and as service provider, who has been working with them for more than a decade it is our role to participate in their initiative which is what we did.

He expects that client to return to stability in coming quarter or quarters and get back into growth.Watch video for more...