Mphasis Q3 profit rises 7.2%

Mphasis, the provider of applications services, Infrastructure services, and Business Process Outsourcing (BPO) services globally today reported a 7.16% rise in consolidated net profit to Rs 2.09 billion for the quarter ended July 31, 2012 as compared to Rs 1.95 billion in the same period last year.

Consolidated revenues has increased by 4.75% to Rs 13.55 billion for the quarter ended July 31, 2012 from Rs 12.94 billion in the year ago period.

Other income has increased by 7.92% to Rs 483.7 million for the quarter ended July 31, 2012 from Rs 448.2 million in the year ago period.

Direct business revenues grew by 48.3% on a YoY basis and 12.6% sequentially to Rs 6.33 billion.

''Sustained focus on building our Direct business is yielding results. We will continue our strategy of Hyper-specialization and investment in go-to-market.'' said Ganesh Ayyar, chief executive officer, Mphasis.

Shares of the company gained Rs 2.35, or 0.64%, to settle at Rs 369.95. The total volume of shares traded was 15,897 at the BSE (Wednesday).