FROM OUR CORRESPONDENT
Mumbai, India - June 9, 2002
BFL Group has reported a 189 per cent rise in consolidated net profit
to Rs 13.85 crore for the quarter ended June 30, 2002 from Rs 4.80
crore in the same period of the previous year.
all eyes are now focussed on Infosys Technologies Ltd, which willannounce
its first quarter results on Wednesday. Analysts expect the Bangalore-based
company to marginally better its performance this year.
said the net profit for the current quarter also represents an increase
of 4.5 per cent over the Rs 13.26 crore posted in the previous sequential
quarter ended March 31, 2002 despite an increase of more than Rs
1.5 crore in tax provision.
revenues at Rs 89.52 crore in the current year, increased by 23
per cent over the same quarter last year. On a sequential quarter
on quarter basis, revenues grew by 6.6 per cent.
The improvement in net profit over last year, the
group said, is due to improved gross margins and the reduction in
selling, general and administrative expenses. During the quarter,
the group added 15 new clients including one on MphasiS BPO, the
groupís call centre subsidiary. These include a large international
financial institution, Emirates Bank, Sony Corporation and a large
insurance company in India. Nine of the clients added are in the
financial services vertical.
however, said that manpower utilisation rates in the quarter remained
flat compared with the quarter ended March 31, 2002 at 72 per cent.