MphasiS has dipped 14% to Rs 339 in morning trades after reporting 28% year-on-year (y-o-y) drop in consolidated net profit at Rs 195 crore for the third quarter ended July 2011. The company reported a net profit of Rs 271 crore during the May-July quarter last year.
 
“Revenues of the company rose single digit to Rs 1,293 crore during the quarter under review, against Rs 1,279 crore in the same period a year ago," the mid-cap firm said in a filing to the Bombay Stock Exchange (BSE).
 
"Uncertainty in the external market requires a company that is adaptive. That is exactly what we did in 2009. MphasiS stayed close to customers with sustained focus on augmenting value. That will be our Mantra," MphasiS Chief Executive Officer Ganesh Ayyar said.