MphasiS is trading higher by 3% at Rs 379 after IT consulting and services firm said that its EBIT margins expanded 120 bps in Q2FY12 to 16.2% on the back of strong emphasis on cost rationlization over the past few quarters and productivity gains from the flattening of the delivery pyramid.
“Operating profits increased 5.1% at Rs 216 crore, while net profit grew 2.2% at Rs 189 crore on sequential basis for the second quarter ended April 2012. Total operation income however, drop 3% at Rs 1,329 crore on quarter-on-quarter basis,” MphasiS said in a filing.
The stock opened at Rs 358 and hit a high of Rs 380 on the National Stock Exchange. A combined 60,000 shares have changed hands on the counter in morning trades on both the exchanges.