Operating profit during the seven month period ended 31 October 2008 was Rs 288 crores compared with Rs 167 crores in the same period a year ago – a growth of 72%. Operating Margins year on year recorded 2.7% growth and Net margins grew 5.1%. Operating margins and net margins for the month of October 08 grew by 6.1% to 22% and 23% respectively over quarter ended 30 September 2008.
The Board of Directors has recommended a final dividend of Rs 2.00 per share for the 7 months period ended 31 October 2008.
The Group pursuant to the approval of Board of Directors changed the quarter and financial year to November- October with effect from 1 November 2008 to align to the financial year of HP , consequent to the merger of EDS with HP. Accordingly, the results for the current year is for the 7 month period ending 31 October 2008.
Commenting on the results Jeya Kumar, CEO, said “This has been a year of strong financial performance with record EPS and EPS growth – the highest in the history of the company. We have built a strong foundation for the future, institutionalized several initiatives to integrate and verticalise our business while developing our capability and capacity for robust growth”.
During the 7 month period ended 31 October 2008, the group added 47 new clients including 38 relationships through EDS. This includes clients in Manufacturing and Retail, Technology, Banking and Financial services. The group now has 96 clients with an annualized run rate of more than a million dollars including 9 clients in excess of USD 20 million. The billing rates remained steady. Manpower utilization improved significantly across all the business. The group net headcount increased by 1,748 during this period to take the total manpower numbers to 28,795.
About MphasiS
MphasiS, an EDS company, is a leading Applications Services, Remote Infrastructure Services, BPO and KPO services provider. We deliver real improvements in business performance for clients through a combination of technology know-how, domain and process expertise. With currently over 28,000 people on the roles, we service clients in Financial Services, Healthcare, Communications, Transportation, Consumer & Retail industries and to Governments around the world.
To know more, please visit www.mphasis.com.
About HP
HP, the world’s largest technology company, provides printing and personal computing products and IT services, software and solutions that simplify the technology experience for consumers and businesses. HP completed its acquisition of EDS on Aug. 26, 2008. More information about HP (NYSE: HPQ) is available at http://www.hp.com/
