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News >> Technology >>
MphasiS Q2 net up 58%, beats forecast
By siliconindia
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Thursday, 09 October 2003, 19:30 IST
BANGALORE: Indian mid-sized software services exporter MphasiS BFL Ltd reported a better-than-expected 58 per cent rise in quarterly earnings on Thursday on rising outsourcing demand from overseas clients looking to cut costs.
The company, which has discount brokerage giant Charles Schwab Corp and US financial titan Citigroup Inc among its main clients, said its July-September net profit rose to Rs 254.6 million from Rs 161.3 million a year earlier.
Revenue rose 39 per cent to Rs 1.43 billion.
The firm, an early entrant into the booming call centre and back-office services sector, said it was retaining its growth forecast for full-year net profit at 40 to 45 per cent and for revenue at 30 to 35 per cent.
MphasiS said in a statement its gross margins in the software business had improved despite an appreciation in the rupee.
It said its business process outsourcing division MsourcE had also posted a profit during the quarter.