Mphasis Q1 net profit up 38% to Rs 204 crore

IT company MphasiS posted a 38 percent rise in consolidated net profit at Rs 204.3 crore for the first quarter ended June 30, 2016.The company's income from operations rose 1.5 percent year-on-year to Rs 1,516.6 crore in June quarter.Terming the first quarter as being a good start, Ganesh Ayyar, CEO of Mphasis said, "Our sustained focus on hyper specialisation and new generation services is yielding strong results.""FY2016 was a banner year for Mphasis; we outlined our strategic roadmap to address growth and profitability of the company," Ayyar said in a statement.The company said that direct international revenue grew 14.7 percent year-on-year and 1.4 percent sequentially."Robust deal wins continue with $96 million TCV (Total Contract Value) in direct international business of which 75 percent are in new generation services," it added.