MphasiS BFL net rises 49 per cent in H1
By Bangalore: | 12 Oct 2004
Bangalore: The MphasiS BFL group has reported a 49 per cent jump in consolidated net profits for the first half ended September 30 at Rs66.80 crore, compared to Rs44.95 crore recorded during the corresponding period last year. Revenues stood at Rs368.80 crore, representing a 35 per cent increase over Rs273.15 crore earlier.
For the second quarter ended September 30, the group's consolidated net profit stood at Rs31.51 crore (Rs25.45 crore), a 24 per cent growth, and revenues amounted to Rs192.99 crore (Rs142.92 crore), a 35 per cent increase.
While the software services business contributed Rs122.20 crore, the BPO practice earned Rs70.79 crore. During the current quarter, the group added 17 new clients — 15 in the software services segment and two in BPO services.
With a cash balance of Rs100 crore, MphasiS BFL considers mergers and acquisitions as an "important leg up" to scale up the service offerings.