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Indian IT-BPO Firm Reports Hike Despite Weak 2011 Q1

by: Ronald Escanlar

Friday, March 4, 2011 | Outsourcing News |

Indian IT and BPO firm MphasiS finally published their verticals and average realization rates after pressure from investors and analysts. The company had stopped publication of these figures, stating that this was due to changes to its organizational structure.

MphasiS had been criticized earlier due to its lack of proper disclosure and transparency about the work they do for HP, which owns 60% stake in the firm. The Indian company earns 69% revenue from HP. Concerns over corporate governance and a weak 2011 quarter ending led to the Indian stock exchange's biggest fall last February 25.

The firm reported a 47.2 percent hike in their ITO services, while their BPO services fell by 17.4 percent.


Source:
http://timesofindia.indiatimes.com/

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