Business Times

Mphasis exceeds a billion dollar in revenues

Indian outsourcer Mphasis, which recently started an operation in Sri Lanka, reported its revenues had exceeded the billion dollar mark for the first time in its history as of its full year financials for the period ended October 31, which showed the company's consolidated revenues as US$ 1,099.3 million. This was also noted as being a 25.8% increase year on year, from US$ 874.2 million in the 2009 financial year.

Also reported; "net profit increased by 27.8% from USD 186.2 million to USD 238.1 million. The company’s operating profit during the year ended 31 October 2010 was USD 240.3 million, a growth of 26.7% in comparison to the previous year. Operating margins for the year was 21.9%. [Earnings per share] for the year was USD 1.13, an increase of 27.4% in comparison to the previous year." Additionally, it was revealed that the company's board had recommended a 40% shareholder dividend.

Meanwhile, during the fourth quarter of its 2010 financial year, Mphasis indicated it had added 22 new clients, including a "bank, a large health care provider and clients from the manufacturing vertical." It also reported 5,330 additional staff, with its total headcount rising to 39,962 as of October 31, 2010. Further; "Cash and bank balances including short-term investments in liquid mutual funds stood at USD 368.9 million as of 31 October 2010."

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