The Hindu Business Line : MphasiS Q3 net up 38% at Rs 66 cr

Bangalore, Jan. 31 Fired by growth in all businesses, despite an appreciating rupee, the MphasiS Group has reported a 38 per cent increase in net profit for the third-quarter ended December 31, 2007 to Rs 66.3 crore. Revenues for the quarter grew 39 per cent to Rs 632 crore.

For the nine months ended December 31, 2007, the group recorded revenues of Rs 1,765 crore, at a growth of over 40 per cent. Net profit increased 57 per cent to Rs 184 crore. Sequential revenues grew by 5 per cent, while the net profit remained flat.

Mr Deepak Patel, Managing Director & Group COO, said: “Revenues grew by 66 per cent in 2007 compared to 2006, fuelled by growth in all business lines. ITO business more than doubled in 2007 compared to 2006. We will continue to make investments in resources and infrastructure to support future growth and broaden our service offerings going forward in 2008.”

During the quarter, 12 clients were added in applications services, four in BPO and two in ITO. Clients include a leading automobile company in Europe, a large insurance and financial services company in the US, and a large Indian telecom service provider in the BPO services.

The group now has 89 clients with an annualised run rate of more than $1 million, including eight clients in excess of $20 million.

Headcount

The group recorded a net headcount increase of 2,158. The group’s total headcount is 26,236 as on December 31, 2007. The utilisation rates declined in all businesses in the current quarter owing to increase in capacity to cater to future growth, said a company statement.

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