The company had posted a net profit of Rs 161.9 crore in the same quarter last fiscal, Mphasis said in a BSE filing.
Net sales for the quarter under review stood at Rs 1,516.7 crore, up 7.5 per cent, from Rs 1,410.7 crore in the year-ago period.
Banking and capital markets accounted for Rs 751.6 crore, while insurance; IT, communications and entertainment; and emerging industries contributed Rs 237.4 crore, Rs 151.1 crore and Rs 372 crore, respectively.
Direct international business grew 3.1 per cent quarter-on-quarter and 32 per cent year-on-year.
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"The entire industry is witnessing a change in demand patterns. Digital revolution would necessitate organisations to innovate and socialise. We are enjoying the benefits of our transformation towards hyper-specialisation and customer focus," said Ganesh Ayyar CEO Mphasis.
The company's productivity improvement plan has provided stellar impact despite 160 basis points impact from wage hike, said V Suryanarayanan CFO and Executive Vice-President Mphasis.
The stock of the company closed 3.88 per cent up at Rs 450.75 apiece on the BSE.