Moneycontrol Bureau
IT services provider Mphasis matched analysts' expectations on bottomline and topline front but September quarter operational performance was ahead of estimates. Consolidated net profit grew by 18.4 percent sequentially to Rs 185 crore, boosted by operational numbers despite lower other income.
Consolidated revenue increased 4 percent to Rs 1,557.5 crore in September quarter compared to Rs 1,496.4 crore in June quarter. It was supported by banking & capital market, insurance and emerging industries segment despite lower revenue in IT, communication & entertainment segment.
Profit was estimated to grow 17.8 percent to Rs 184 crore and revenue 2 percent to Rs 1,527 crore for the quarter, according to average of estimates of analysts polled by CNBC-TV18.
"We are delivering to plans of growing direct international business faster than the market. These results reflect excellent overall performance," Ganesh Ayyar, CEO, Mphasis.
Direct international revenue increased by 7.9 percent on sequential basis, said the company, adding it has reported robust deal wins in direct international business with USD 90 million TCV (total contract value).
Operating profit jumped 10.8 percent quarter-on-quarter to Rs 234.5 crore and margin expanded by 100 basis points to 15.1 percent in the quarter gone by, which were expected at Rs 221 crore and 14.5 percent, respectively.
Other income declined 12.6 percent to Rs 49.2 crore in September quarter from Rs 56.3 crore in preceding quarter.
At 10:27 hours IST, the scrip of MphasiS was quoting at Rs 457.30, up Rs 39.20, or 9.38 percent after hitting multi-year high of Rs 475 on the BSE.
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