MphasiS Ltd reported a more than doubling of its quarterly net profit as the mid-sized Indian IT services provider bagged new outsourcing contracts despite a challenging global economic environment.
The company, majority owned by U.S.-based Electronic Data Systems Corp, a unit of Hewlett-Packard Co, said net profit in the quarter ended July rose to Rs 229 crore ($47 million) from Rs 101 crore a year ago.
MphasiS has changed its financial year from April-March to November-October with effect from Nov. 1, 2008 to align with Hewlett Packard.
The company said its revenue jumped 43 per cent to Rs 1106 crore, as it added 7 new clients during the quarter, including a consumer products maker, a healthcare services provider and a telecoms operator.
| NIFTY 
