Mumbai, Aug. 7 (PTI) Bangalore-based IT firm MphasiS Ltd has posted a 73.47 per cent rise in its net profit at Rs 48.73 crore for the quarter ended June 30 compared with Rs 28.09 crore for the same period last fiscal.

Total income increased 49.78 per cent to Rs 346.54 crore for the quarter ended June 30 from Rs 231.36 crore during the same period a year ago, the company has informed the Bombay Stock Exchange.

“With the legal merger now complete, we are in a position to declare the aggregate results of the organisations and the numbers are a testimony to the joint synergies,” chairman Jerry Rao said while commenting on the results.

“As a combined group with EDS, we are growing from strength to strength and the proof of that is the fact that together we are winning in the marketplace,” he said.

Rao added that the annualised revenue run rate was now well over half a billion dollars and the profitability was on track as well, despite the strength of the rupee.

The group’s net profit shot up 57.36 per cent to Rs 51.30 crore for the quarter ended June 30 from Rs 32.60 crore for the same quarter previous year.

Total income rose 33 per cent to Rs 513.90 crore for the quarter ended June 30 compared with Rs 383.64 crore for the same quarter last year.

The shares of the company today closed 5.05 per cent down at Rs 288.45 on the BSE.