IT company, Mphasis, on Friday said the company is in-line to achieve

earnings before interest and taxes (EBIT) margin guidance of 15-17 percent for FY19.

The company posted a 29.3 percent rise in consolidated net profit to Rs 277.9 crore for the December 2018 quarter. Mphasis net profit stood at Rs 214.9 crore in the year-ago period.

In an interview to CNBC-TV18, Nitin Rakesh, chief executive officer, said, "2018 was a tailwinded year, but it's yet too early to say if the macro environment has changed for 2019. However, clients seem more cautious given the volatility in the market"

According to Rakesh, "So far the company has not seen any impact in client sentiment or spend budgets. I think the budgets will be stable with slightly upward bias given the tailwind of increased investment intact."

V Suryanarayanan, chief financial officer, said, "Considering the focus on operating levers in the last six quarters, we are confident of being within that band or better for FY20."

First Published:Jan 25, 2019 3:40 PM IST