Mphasis Q1 Profit Rises 38% To Rs 204 Crore

New Delhi: IT company Mphasis on Saturday posted a 38 per cent rise in consolidated net profit at Rs 204.3 crore for the fiscal first quarter that ended on June 30, 2016.

The company's income from operations rose 1.5 per cent year-on-year to Rs 1,516.6 crore in the June quarter.

Terming the first quarter as being a good start, Mphasis CEO Ganesh Ayyar said, "Our sustained focus on hyper specialisation and new generation services is yielding strong results."

"FY2016 was a banner year for Mphasis; we outlined our strategic roadmap to address growth and profitability of the company," Mr Ayyar said in a statement.

The company said that direct international revenue grew 14.7 per cent year-on-year and 1.4 per cent sequentially.

"Robust deal wins continue with $96 million TCV (total contract value) in direct international business of which 75 per cent are in new generation services," it added.