Mphasis Q1 net Rs 185 crore down by 18%

Bengaluru, March 02, 2012 : IT services company MphasiS Limited [stockquote]MPHASIS[/stockquote] has announced January 31 ended quarter results today. Net profit declined by 18% to INR 185 Cr compared to Rs 226 crore in the same quarter last year. The decline in net profit is mainly attributed towards decline in HP enterprise services business. Salary increase of 8-12 per cent given in the third quarter was also one of the factors as explained by management.

The topline for the quarter stood at Rs 1,367 crore, a 10 per cent increase from the previous year primarily by growth in the direct business. Company has added 17 new clients during the quarter.