Mphasis posts over 29 pct increase in net profit to Rs 278 cr in Q3

IT company Mphasis Thursday posted a 29.3 per cent rise in consolidated net profit to Rs 277.9 crore for the December 2018 quarter. The company's net profit stood at Rs 214.9 crore in the year-ago period, Mphasis said in a statement.

Mphasis' revenue from operations grew 18.6 per cent to Rs 1,970.9 per cent in the quarter from Rs 1,660.6 crore in the October-December 2017 period. The company said it saw new deal wins of USD 122 million in direct international business, of which 81 per cent are in new-generation services.

"Q3 is proof of our Cloud and Cognitive strategy in action, with the acquisition of Stelligent and launch of multiple clients wins in these areas. We are pleased with our overall performance in Q3 and our sustained execution road map across the portfolio, especially in New Gen Services," Mphasis CEO and Executive Director Nitin Rakesh said. He further said: "We continue to stay focused on execution of our deal pipeline and supporting the growth momentum."

(With inputs from agencies.)