Mphasis consolidated net profit rises 32.7% in the March 2020 quarter

New Delhi: IT firm Mphasis has reported a 32.7 per cent increase in its consolidated net profit to Rs 353.2 crore in the March 2020 quarter.

The company's net profit stood at Rs 266.1 crore in the year-ago period, the company said on Wednesday night.

Its revenue from operations grew 15.8 per cent to Rs 2,346.1 crore in the quarter from Rs 2,024.9 crore in the year-ago period, it added.

For the full fiscal 2019-20, Mphasis' net profit was up 10.3 per cent to Rs 1,184.8 crore from Rs 1,073.3 crore, while revenue from operations was higher by 14.3 per cent to Rs 8,843.5 crore from Rs 7,730.9 crore in the previous financial year.

This year the company recorded the highest ever total contract value (TCV) wins in direct international business, as well as strong earnings growth, Nitin Rakesh, Chief Executive Officer and Executive Director of Mphasis, said.

He added that the company is focused on strengthening its position through this period of uncertainty by staying close to clients and enabling them to accelerate their digital transformation journey during these challenging times.

The company said it registered USD 201 million worth of TCV (total contract value) wins in direct international business during the quarter, of which 79 per cent was in new-generation services.

For the year, the TCV was at USD 715 million in direct international business, of which 81 per cent in new-generation services. The overall TCV growth was at 16 per cent, the statement said.