IT company Mphasis has reported a 17.6 per cent increase in consolidated net profit at Rs 184.1 crore for the period ended March 31.
The company had posted net profit of Rs 156.5 crore in the same period a year ago, it said in a filing to the Bombay Stock Exchange.
Commenting on the development, Mphasis Chief Executive Officer and Executive Director Nitin Rakesh said, “We are witnessing good momentum in our sales pipeline and in next-generation services across direct core and DXC/HPE business. The Blackstone portfolio companies offer us additional tailwinds to accelerate growth and we are on our execution path. Our size is our advantage; it gives us agility as well as scale to deliver.”
The company booked order of USD 365 million or about Rs 2,300 crore in 2016-17, of which USD 90 million or around Rs 500 crore worth orders were booked in January-March.
The gross revenue of the company declined by 2.9 per cent to Rs 1,473.2 crore during the reported quarter from Rs 1,516.7 crore in the same period a year ago.
For year ended March 31, Mphasis posted 25.3 per cent jump in its net profit at Rs 791.6 crore compared to Rs 631.5 crore at the end of 2015-16.
The gross annual revenue of Mphasis declined by 1.1 per cent to Rs 5,997.4 crore for 2016-17, compared to Rs 6,066.9 crore at the end of previous fiscal. Meanwhile, shares of the company were trading at Rs 584.80 apiece, up 2.06 per cent from the previous close at 12:53 hours on BSE.