MphasiS BFL Group Q2 Consolidated Profit At Rs 16.13 Crore

Our eFE Bureau - Banglore

The MphasiS BFL Group, engaged in software services exports and BPO operations, has registered a consolidated net profit of Rs 16.13 crore for the second quarter of financial year 2002-03 as against Rs 10.02 crore in the same period last fiscal, representing a growth of 61 per cent. Consolidated revenue increased by 35 per cent to touch Rs 102.89 crore in the same period.

The net profit for the current quarter also represents an increase of 16.2 per cent over the Rs 13.89 crore posted in the previous sequential quarter, while revenue posted an increase of 14.9 per cent for the same period.

Commenting on the results, MphasiS BFL group chairman Jerry Rao said,”This has been a quarter of growth not only on our top line, but in our margins as well. Our software business has grown after a couple of quarters with a marked improvement in gross margins. MphasiS BPO too has been on track and recorded a profit for the second year in a row”.

The software services revenue of the company stood at Rs 80.55 crore showing an increase of 7.5 per cent on a sequential quarter on quarter basis; while gross margins increased by 3.1 per cent in the same period.

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