Information technology firm Mphasis Ltd, which is a subsidiary of HP-owned EDS, has recorded a 42.5% growth in the quarter ended on July 31, 2009.

The total revenue of the company has increased to Rs 9.201 billion for the quarter ended July 31, 2009 as compared to Rs 5.826 billion for corresponding quarter last fiscal.

Mphasis has registered a huge increase of 128% in its net profit, which stood at Rs 2.27 billion as against Rs 100.7 billion profit previous year.

Mr. Ganesh Ayyar, Chief Executive Officer of MphasiS, has stated that the company’s previous week decision to purchase AIG Solution Systems (AIGSS), the IT arm of American insurance giant AIG, was accustomed with their plan to attain better position in the insurance sector.

MphasiS has obtained seven new clients during the quarter, which include a leader in consumer products, a healthcare services provider and a telecom service provider.