MphasiS' net profit up by 53 per cent

Bangalore, Feb 1 (UNI) MphasiS today reported a 53 per cent increase in the Group's consolidated net profit at Rs 35.8 crore in the third quarter of the current fiscal over the second quarter, with operating profits up by 30 per cent at Rs 42.7 crore.

Revenue growth in sequential quarters was a healthy five per cent despite strong appreciation in the Rupee vis-a-vis the US Dollar, the company said in a release here.

Consolidated revenues at Rs 306 crore in the current quarter was 26 per cent higher than the same quarter last year. During the same period, net profit declined by 12 per cent from Rs 40.8 crore to Rs 35.8 crore. This included a forex loss of Rs six crore and a tax charge of Rs two crore in the quarter ended December 2006 as against forex loss of Rs 2.6 crore and tax charge of Rs 0.6 crore in the quarter ended December 2005. The operating profit for the quarter ended December 2006 was flat as compared to the operating profit for the quarter ended December 2005.

For the nine months ended December 2006, the Group recorded revenues of Rs 858.6 crore, a growth of 25 per cent over the corresponding period of last year, the release said.

MphasiS Chairman Jerry Rao said ''as we close the calendar year 2006, we can look back with a sense of pride at what we have achieved and move into the new year with renewed vigour. Our alignment with EDS has been a landmark achievement in the past year as we look to grow this organisation into a name to be reckoned with.'' During the quarter, the Group added eleven new clients - nine in software services and two in BPO, the release added.

UNI