The Telegraph
Since 1st March, 1999
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MphasiS net profit grows 41 per cent

Mumbai, April 9: The MphasiS BFL group has posted a 41.2 per cent growth in net profit for the fourth quarter ended March 31 this year. Net profit rose to Rs 18.72 crore against Rs 13.26 crore in the corresponding period of the previous year.

The group has forecast that in the current financial year revenues are likely to increase by 30 to 35 per cent and profits in the range of 40-45 per cent.

The groupís consolidated net profit for the last fiscal at Rs 66.93 crore represents an increase of 63 per cent over the previous yearís figure of Rs 40.98 crore. Consolidated revenues for the year increased by 37 per cent to Rs 429.27 crore (Rs 313.35 crore).

Fourth-quarter revenue at Rs 120.88 crore represented a 4.3 per cent rise on a sequential basis while on a year-on-year basis the increase is around 43.9 per cent.

MphasiS BFL Ltd, the group company, also announced that its board would consider a bonus issue in the ratio of 1:1.

Mastek warning

The Mastek group has posted a 45 per cent rise in net profit on a consolidated basis at Rs 16.03 crore for the third quarter ended March 31 this year compared with Rs 11.03 crore in the year-ago period.

Mastek has warned that the April-June quarter will not fall in line with the growth momentum of the past six quarters due to decisions of postponements, order size reductions and economic uncertainties.

In the light of this development, the company said it would like to reset revenue and profit expectations for this fiscal and will not achieve the set target growth of 43-48 per cent.

The companyís total revenue for the reporting period rose to Rs 99.06 crore from Rs 72.54 crore recorded during the same period last year. Its Indian subsidiary Mastekís third-quarter net fell 28 per cent to Rs 5.4 crore compared with Rs 7.52 crore for the same quarter last year.

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