Bangalore-based MphasiS BFL Group has showed a
61 percent increase in consolidated net profit to record Rs 16.13
crore for the second quarter (Q2) ended September 30, 2002, compared
to Rs 10.02 crore during the corresponding period of the previous
year. The consolidated revenue for Q2 also showed an increase of
35 percent to record Rs 102.89 crore compared to Rs 76.18 crore
compared to the corresponding period of the previous year.
On a sequential, quarter-on-quarter basis, net
profit showed an increase of 13.2 percent over Rs 13.89 crore posted
in the previous sequential quarter ended June 30, 2002, while revenues
showed an increase of 14.9 percent over Rs 89.54 crore.
For the half-year ended September 30, 2002, for
the financial year 2002-03, the net profit increased by 102.6 percent
to Rs 30 crore compared to Rs 14.81 crore during the corresponding
period of the previous year. The revenue also showed an increase
of 29 percent at Rs 192.4 crore compared to Rs 148.99 crore during
the corresponding period of the previous year.
Software services revenue in Q2 showed a sequential
increase of 7.5 percent to record Rs 80.55 crore, while gross margins
increased by 31. percent sequentially to 40.2 percent for Q2.
"This has been a quarter of growth not only on
our topline, but in our margins as well. Our software business has
grown after a couple of flat quarters with a marked improvement
in gross margins. MphasiS BPO (the call centre subsidiary) too has been
on track and recorded a profit for the second quarter in a row,"
Jerry Rao, Chairman and Managing Director, said.
The improvement in net profit was due to improved
gross margins as well as reduction in general and administrative
expenses, which reduced from 15.1 percent of revenues in the quarter-ended
September 30, 2001, to 11.5 percent in Q2.
The group also added 14 clients in Q2 including
three in MphasiS BPO. Software manpower utilisation rates increased
to 74 percent.
MphasiS BPO recorded revenue of Rs 22.34 crore
registering a net profit of Rs 1.05 crore. As of September 30, 2002,
the call centre has 1,635 people on its roll.