The Telegraph
Since 1st March, 1999
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MphasiS net up 58% at Rs 25 cr

Bangalore, Oct. 9 (PTI): IT major MphasiS BFL has posted a 58 per cent rise in second-quarter net profit at Rs 25.46 crore against Rs 16.18 crore in the corresponding previous period.

The company’s revenue increased 39 per cent at Rs 142.93 crore in the reporting quarter as compared with Rs 102.89 crore in the second quarter of 2002, an MphasiS BFL statement said here.

MphasiS hired 125 software professionals during the quarter.

“This has been a very good quarter across the group with healthy growth in revenues and profits in both the software and BPO businesses. Software margins have improved despite an appreciation of the Indian rupee. Msource continues to grow rapidly and has recorded a profit this quarter,” MphasiS BFL chairman and CEO Jerry Rao said.

Msource, the group BPO subsidiary, recorded revenues of Rs 44.78 crore during the second quarter, a 101 per cent jump compared with Rs 22.34 crore during the same period last year. During this quarter, Msource registered a net profit of Rs 3.56 crore.

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