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Journalism of Courage
Shares of IT and BPO services firm MphasiS today gained 4 per cent after the company posted higher-than-expected jump in net profit for the quarter ended July,2012.
The MphasiS counter settled at Rs 383.80,up 4.02 per cent on the BSE. Intra-day,the scrip climbed 4.86 per cent to Rs 386.9.
At the NSE,shares of the company closed 4.06 per cent higher at Rs 383.10.
“For 3QFY2012,MphasiS’ numbers underperformed our expectation on the revenue front,but came higher than expectations on the net profit front due to lower tax expense and higher other income,” said Angel Broking IT analyst Ankita Somani.
MphasiS yesterday said it posted a 7.2 per cent rise in net profit at Rs 208.74 crore for the quarter ended July,2012,on the back of improved operational performance. The company had posted a net profit of Rs 194.80 crore in the third quarter of last fiscal.
Mphasis,in which HP owns more than 60 per cent,follows November to October financial year.
