Business Daily from THE HINDU group of publications
Tuesday, Oct 31, 2006
ePaper


News
Features
Stocks
Cross Currency
Shipping
Archives
Google

Group Sites

Home Page - Financial Performance
Corporate Results - Software
Info-Tech - Financial Performance
Forex loss, tax charge dent MphasiS BFL net

Our Bureau

Bangalore , Oct. 30

The MphasiS BFL Group has reported a 54 per cent rise in consolidated net profit at Rs 23.4 crore for the quarter-ended September compared to Rs 15.2 crore in previous quarter.

Consolidated revenues grew 12 per cent to Rs 291.9 crore compared to Rs 260 crore in the previous quarter.

On a year-on-year basis, the consolidated net profit declined by 42 per cent while the revenues grew 28 per cent over corresponding quarter last year. The net profits this quarter were impacted by a forex loss of Rs 6.9 crore and a tax charge of Rs 3.9 crore compared to a forex gain of Rs 4 crore and tax charge of Rs 90 lakh in the corresponding quarter last year.

Revenues from IT services business grew 12.6 per cent to Rs 205.7 crore, while the BPO business grew by 10.6 per cent to Rs 86 crore over previous quarter. Operating margins improved to 11.2 per cent during the quarter from 6.3 per cent in the previous quarter.

Mr Jerry Rao, CEO and Chairman designate, said: "We have crossed the Rs 500-crore mark in revenues in six months this year. While the year-on-year revenue growth is back on track, we are still some way from getting back to historical margin trajectories. Business from EDS has started flowing and the integration with EDS India is progressing well".

MphasiS has added over 1300 people this quarter to increase overall headcount to cross the 12,000-mark. Ten new clients in software services and one in BPO were added during the quarter. MphasiS stock closed almost flat at Rs 231.30 on the BSE on Monday.

Recently, EDS made an open offer for approximately 32.95 million shares of MphasiS. The offer is slated to open on November 27 and close on December 18.

More Stories on : Financial Performance | Software | Financial Performance

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page



Hiring

Stories in this Section
Wheat MSP hiked by Rs 100


Ogni slams into Andhra coast
Credit demand strong in Q2, says RBI
RBI rate hike a given
Tata Motors Q2 net up 31%
Tata Steel Q2 net rises to Rs 1,101 cr
ITC net profit grows 18.7%
PNB posts 20-pc rise in PAT; deposit costs down
Forex loss, tax charge dent MphasiS BFL net
Reliance Comm posts Rs 702-cr net in Q2
Sensex at new high, tops 13,000
`Market likely to gain more in strength'
`Stay invested, but with parachutes'
Empire Ind betting on real-estate
Raunaq Auto: Steady accumulation
Shut mobile networks to check cheating, rigging



The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | The Hindu ePaper | Business Line | Business Line ePaper | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright 2006, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line