MphasiS BFL posts 28 pc rise in Q2 net
By agencies   |   Thursday, 13 October 2005, 19:30 IST
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BANGALORE: MphasiS BFL group reported a 28 percent increase in the net profit to $0.91 million for the second quarter of the current financial year up from $0.71 million during the same period last year. Revenues of the company were up by 18 percent to $5.16 million ($4.38 million) The surge in group's revenues mainly came from enhancement of business from existing clients as well as from service offerings to new clients. During the second quarter, the group added 15 new clients, of which 12 in software services and three in BPO. MphasiS Chairman and CEO Jerry Rao said: “We have crossed the $100 million mark in revenues in six months this year. We have also crossed Rs 40-crore mark in profits for this quarter. These are the two significant milestones for our group.” Software services revenues increased by 27.8 percent to $3.54 million from the corresponding quarter last year. BPO services revenues grew marginally, by 0.7 percent. However, gross margins improved by 2.2 percent and operating profits by 3 per cent in the same period. During the quarter ended on September 30, the company hired over 1,200 in BPO and expects the revenue to flow to increase in the coming quarters. The quarter saw an increase in headcount by 117 in software services, and 1,222 in BPO

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