Bureau in Bangalore
MphasiS BFL Group has posted a 189 per cent increase in net profit
in the first quarter of 2002-03 at Rs 13.85 crore, over the corresponding
period of last year.
net profit for the current quarter also represents an increase of
4.5 per cent over the Rs 13.26 crore posted in the last quarter
revenues at Rs 89.52 crore in the current quarter have increase
23 per cent over the same quarter last year.
improvement in net profit over last year is due to improved gross
margins and a reduction in selling, general and administrative expenses
that have come down to 12.3 per cent of the revenue earned in this
quarter, compared to 17.4 per cent in the corresponding period last
software business has been flat and margins are under pressure but
we have been able to control our costs and take steps to maintain
our profit growth,” said Jerry Rao, the group’s chairman and managing
During the first quarter, the group added 15 new
clients, including one in MphasiS BPO, the group’s call centre
on the results, Rao said, “The MphasiS BPO story is unfolding well and
we have recorded a profit for the first time—one quarter ahead of
recorded a 274 per cent growth in revenues at Rs 14.58 crore in
the first quarter, as against Rs 3.90 crore in the corresponding
period in the previous year.