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February 23, 2010

MphasiS Q1 revenue up 21.9% to INR11.91bn

Application services segment revenue up 27% on year ago quarter

By CBR Staff Writer

MphasiS Group, an Indian-based IT company, has reported total revenue of INR11.96bn for the first quarter, an increase of 21.9% compared to INR9.78bn for the same period last year.

The company reported a gross profit INR3.7bn, compared to INR3.2bn of the same period a year ago. Operating profit rose by 27.2% to INR2.67 from INR2.1bn.

For the quarter ended 31 January 2010, the company posted a net profit INR2.68bn, an increase of 9.5% compared to INR2.1bn for the same period last year.

Revenue from application services segment increased 27% to INR8.09bn from INR6.36bn, while revenues from BPO services and ITO services rose by 5% and 19% to INR1.85bn and INR1.97bn, respectively.

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During the quarter, the group added 19 new clients, across 6 verticals, 11 being from HP Channel, including a home improvement specialty retailer and a major brokerage house.

Ganesh Ayyar, CEO of MphasiS, said: “I am thrilled to see that we have crossed $250m mark in the very first quarter of 2010. Our customer acquisition engine worked well. We continue to focus operational excellence delivering value to our customers.”

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