Hewlett-Packard owned software firm Mphasis sales up 3.5 per cent

BANGALORE: Software services firm Mphasis said sales grew 3.5% sequentially in the August-October quarter to touch Rs 1,594 crore.

The company, owned by Hewlett-Packard which is also its largest client, said it won new business worth $115 million during the quarter. Continuing a trend that has been playing out over several quarters now, revenue from HP fell further but was compensated for by more business from non-HP clients.

For the financial year that ended October 31, Mphasis reported revenues of Rs 5,793 crore, up from Rs 5,357crore last year.

"Our direct business in matured markets has seen a growth of 63% in last one year," said Ganesh Ayyar, CEO, Mphasis.

Mphasis has been trying to increase its direct business to compensate for falling business from HP, which now make up 40% of Mphasis sales.