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MphasiS BFL Q1 net dips 29.47 %
By agencies
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Tuesday, 12 July 2005, 19:30 IST
BANGALORE: MphasiS BFL Ltd reported a 29.47 per cent dip in net profit of Rs 9.02 crore for the quarter ended June 30, 2005 as compared to Rs 12.79 crore for the corresponding quarter ended June 30, 2004.
The company informed the Bombay Stock exchange that the total income has also decreased 7.7 per cent to Rs 65.56 crore for the quarter ended June 30, 2005 from Rs 71.06 crore in the year-ago period.
The group has posted a consolidated net profit of Rs 33.69 crore for the quarter ended June 30, 2005 as compared to Rs 35.28 crore for the quarter ended June 30, 2004.
Total income, however, increased to Rs 225.35 crore for the quarter ended June 30, 2005 from Rs 183.34 crore in the same quarter previous fiscal.
"We have started this year on a positive note with IT services showing strong traction. We have had good volume growth all around and billing rates have remained stable. Our operating metrics have also improved thanks to management action taken in the earlier quarters. Overall, it is a good quarter with a positive outlook for the rest of the year," said Jerry Rao, Chairman of the company.