Mphasis Group posts Rs 79 cr profit in FY09 Q1

Mumbai, Jul 28 (UNI) Business service provider Mphasis Group has posted net profit of Rs 79.0 crore, up by 54 per cent percent for the current fiscal as compared to the same quarter in the previous fiscal.

Consolidated revenues of the company for the quarter was Rs 742.2 crore, up by 39.6 per cent against corresponding quarter of the last fiscal, and operating profit touched Rs 83.5 crore in the same period, stated a release today.

Cash and bank balance of the company stood at Rs 116.5 crores. As many as 1,206 employees and 28 new clients were added during the quarter.

During the same period the net profit increased by 54 per cent, from Rs 51.3 crores to Rs 79.0 crores. Operating profit grew by 24.2 per cent from Rs 67.3 crores to Rs 83.5 crores in the same period.

''Anticipating changes in our business due to altered global market demands, we undertook specific initiatives to meet the challenges. As we progress into the fiscal, we are expanding aggressively and adding new domain specific services to our portfolio,'' Mphasis CEO Jeya Kumar said in the release.

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