Mphasis Q1 net profit up 38% to Rs 204 crore

IT company Mphasis on Saturday posted a 38% rise in consolidated net profit at Rs 204.3 crore for the first quarter ended June 30, 2016.

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

Terming the first quarter as being a good start, Ganesh Ayyar, CEO of Mphasis 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," Ayyar said in a statement.

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

"Robust deal wins continue with $96 million TCV (Total Contract Value) in direct international business of which 75% are in new generation services," it added.