Hughes bucks downtrend - The Ecomomic Times, April 13, 2001

HUGHES Software and MphasiS BFL attracted some buying on the bourses as a result of which the stock prices recorded a substantial gains, While Hughes Software was up over seven per cent to Rs 51 B, MphasiS BFL gained 5.5 per cent to close at Rs 190 on the Bombay Stock Exchange. The euphoria at these counters was on account of the better-than- expected results the two companies announced on the da y. Hughes Software posted a substantially higher net profit of Rs 22 crore during . the quarter ended March '01 as against Rs 12 crore during the quarter ended March "00. MphasiS BFL in fact is a major turn around case as the company posted a net profit of 8.9 crore as against loss of Rs 2.8 crore.