Mphasis Q2 net up 9.4 pc to Rs 299 cr

The company's net profit stood at Rs 273.3 crore in the year-ago period, it said in a regulatory filing. Revenue from operations grew 12.8 per cent to Rs 2,435.4 crore in the reported quarter from Rs 2,158.1 crore in the year-ago period.

IT firm Mphasis on Thursday reported a 9.4 per cent increase in consolidated net profit to Rs 299.2 crore for the September 2020 quarter. The company's net profit stood at Rs 273.3 crore in the year-ago period, it said in a regulatory filing. Revenue from operations grew 12.8 per cent to Rs 2,435.4 crore in the reported quarter from Rs 2,158.1 crore in the year-ago period. The company said it has registered USD 360 million worth of total contract value (TCV) wins in direct international business, of which 73 per cent was in new-generation services. Direct revenue grew 9.7 per cent quarter-on-quarter and 25.2 per cent year-on-year on a reported basis. In constant currency terms, revenue grew 10.9 per cent q-o-q and 18.4 per cent y-o-y. Mphasis' earnings per share (EPS) grew 9.3 per cent y-o-y to Rs 16.04. "We are pleased with achieving the highest-ever TCV wins for the quarter, as the nature of deals is transformation lead; requiring multiple capabilities and competencies to come together. "The investments we made in our tribes and squads model are driving growth and differentiation," Mphasis Chief Executive Officer and Executive Director Nitin Rakesh said.