MphasiS rose 3.54% to Rs 434.90 at 10:13 IST on BSE after consolidated net profit rose 9.1% to Rs 193 crore on 9.6% growth in revenue to Rs 1540 crore in Q3 July 2013 over Q2 April 2013.
The Q3 result was announced after market hours on Thursday, 29 August 2013.
Meanwhile, the S&P BSE Sensex was up 93.37 points or 0.51% at 18,494.41.
On BSE, 33,000 shares were traded in the counter as against average daily volume of 23,767 shares in the past one quarter.
The stock surged as much as 6.41% at the day's high of Rs 447 so far during the day. The stock rose 1.29% at the day's low of Rs 425.50 so far during the day. The stock had hit a 52-week high of Rs 513 on 30 May 2013. The stock had hit a 52-week low of Rs 335 on 13 February 2013.
The stock had outperformed the market over the past one month till 29 August 2013, surging 8.37% compared with the Sensex's 6.08% fall. The scrip had also outperformed the market in past one quarter, declining 6.04% as against Sensex's 8.67% fall.
The mid-cap IT firm has equity capital of Rs 210.14 crore. Face value per share is Rs 10.
MphasiS reported an impressive bottom line growth during the quarter despite a 160 basis points increase in effective tax rates to 26.7%. Operating margins for the quarter expanded 110 bps to 15.8% despite the impact of wage hikes that were administered during the quarter. Cash and cash equivalents increased by Rs 348 crore during the quarter to reach Rs 2688 crore.
MphasiS said that the share of Direct business grew from 54% to 59%, further mitigating risk of client concentration.
Commenting on the company's Q3 performance, Ganesh Ayyar, Chief Executive Officer, MphasiS said: "Our Direct business growth is a reflection of our strategy in action. Our investment in Data, Analytics and Mobility is experiencing growing demand."
During the quarter, the company added 16 clients with 10 in the Direct channel.
MphasiS is a $1 billion global service provider, delivering technology based solutions to clients across the world.
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