MphasiS BFL, a mid-sized Indian software services exporter, posted
a much higher-than-expected 81 per cent rise in quarterly profit
on Friday on increased technology and back-office outsourcing.
Bangalore-based MphasiS reported a consolidated net profit of Rs
35.3 crore in its fiscal first quarter ended June 30, up from Rs
19.5 crore a year earlier and much higher than the median estimate
of Rs 27.6 crore in a poll.
Its revenue rose 35 per cent to Rs 176 crore, a tad higher than
the poll forecast of Rs 175 crore.
The company's shares rose to the day's high of Rs 293 after the
results, up nearly 9 per cent in a modestly higher broad market.
It said it added 11 clients and 762 employees in the past quarter.
Its back-office subsidiary, MsourcE, whose results are clubbed
of the parent, accounts for a third of total revenue and has grown
robustly in recent quarters. The sector's bellwether, Infosys Technologies
reports its quarterly earnings on Tuesday.