BackMphasiS June quarter net at Rs174.79 crore
MphasiS posts consolidated net of `1,490.16 crore for the April-June quarter
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New Delhi: HP-owned IT services firm MphasiS on Wednesday reported a consolidated net profit of ₹ 174.79 crore for the quarter ended 30 June 2014.
The company in a BSE filing said it has changed its accounting year end from October to March, effective 1 November 2013.
Consequently to this the figures reported for the corresponding period are for the three months ended 31 July 2013, which is nearest to the reported quarter.
For the three months ended 31 July 2013, MphasiS posted a net profit of ₹ 192.64 crore.
Consolidated net stood at ₹ 1,490.16 crore for the April-June quarter. Net sales in the three months ended 31 July 2013 were ₹ 1,539.77 crore.
Commenting on the performance, MphasiS CEO Ganesh Aiyar said: “This quarter, we saw contrasting trends in our direct business. On one hand we are witnessing accelerated success in our direct organic business.
“On the other hand headwinds in the US mortgage market is impacting digital risk performance.
MphasiS on Wednesday also announced the appointment of Surayanarayanan S. as the company’s chief financial officer (CFO). He was serving as the interim CFO. Cash and cash equivalents for the quarter ended 30 June 2014 stood at ₹ 384 crore.
MphasiS shares on Wednesday fell by 1.29% to settle at ₹ 453.75 apiece on the BSE.
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