Mphasis consolidated revenue up by 42 %, PAT 57 %

Bangalore, Aug 6 (UNI) The MphasiS Group consolidated revenues at Rs 532 crores in the first quarter ended 30 June 2007 have increased by 42 per cent over the same quarter last year.

During the same period net profit increased by 57 per cent from Rs 32.6 crores to Rs 51.3 crores. This was despite a forex loss of Rs 18 crores in the quarter ended 30 June 2007 as against a gain of Rs 8 crores in the quarter ended 30 June 2006, the company said in a release here today.

Consolidated revenues for the quarter ended 30 June 2007 grew six per cent compared to revenues of Rs 504 crores in the quarter ended 31 March 2007, despite a strong appreciation in the Indian Rupee. In Dollar terms the sequential revenue growth was almost 14 per cent. Due to this appreciation of the Rupee net profit decreased to Rs 51.3 crores for the quarter ended 30 June 2007 as against Rs 63 crores in the quarter ended 31 March 2007 the release said.

These numbers include the results of the erstwhile EDS India which have now been consolidated consequent to the approval of the merger by the courts. This merger is effective from April One 2006 and was approved by Karnataka High Court in its order of July 23 2007.

Excluding the results of EDS India, MphasiS alone recorded a top line growth of 36 per cent to Rs 355 crores for the quarter ended 30 June 2007 compared to the same quarter of the previous fiscal.

During the same period the net profit grew by 168 per cent to Rs 41 crores.

As per the MphasiS Group revised financials for the year ended 31 March 2007, post merger with EDS India, the revenues for the year 2006-07 stood at Rs 1,761 crores as against Rs 940 crores for the previous year, a growth of over 87 per cent. During the same period, net profits grew 20 per cent from Rs 150 crores to Rs 180 crores.

Commenting on the results Company Chairman Jerry Rao said ''With the legal merger now complete we are in a position to declare the aggregate results of the organisations and the numbers are a testimony to the joint synergies. As a combined group with EDS, we are growing from strength to strength and the proof of that is the fact that together we are winning in the marketplace. Our annualized revenue run rate is now well over half a billion dollars and our profitability is on track as well, despite the strength of the rupee''.

The quarter saw the Group recording a headcount increase of 908 in application services, 556 in BPO and 594 in ITO to take the manpower numbers for the Group to 22,070, an increase of 2,058 over the 20,012 as at 31 March 2007. These include the employees of EDS India.

UNI