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News >> Technology >>
Mphasis BFL Q4 net up 34%
By siliconindia
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Friday, 09 April 2004, 19:30 IST
BANGALORE: Mphasis BFL, which announced the issue of a 1:1 bonus on Thursday, kicked off the fourth quarter earnings season for the IT industry by reporting a 34% year-on-year rise in its net profit for Q4.
Net profit was Rs 25.1 crore in Q4, against Rs 18.7 crore for the comparable period. Group revenues in Q4 stood at Rs 158.8 crore, against Rs 120.9 crore for the same period in FY03, indicating a rise of 31.4%.
On a sequential basis (comparing Q4 with the third quarter ended December 31, 03), the group revenues have witnessed a growth of 6.8%, but net profit fell by 11.8% at Rs 25.1 crore (Rs 28.5 crore in Q3), which disappointed the markets. For the full year (FY04) ended March 31, 04, net profit rose by 47%. Net profit stood at Rs 98.6 crore, against Rs 66.9 crore for the comparable period. Consolidated revenues for the group in FY04 were up by 35% at Rs 580.6 crore (Rs 429.3 crore).
In its earnings forecast for the current fiscal, Mphasis BFL expects group revenues to rise by 35-40%, while profits are projected to rise by 40-45%. Commenting on the results, Jerry Rao, chairman and managing director, said, We have completed another successful year as a group.
The group added 12 new clients including one in the BPO services business. The clients included an international financial services organisation, a multinational retail company and a large technology corporation. MsourcE, the BPO services arm of Mphasis BFL, saw its revenues touch Rs 56.2 crore in FY04, witnessing a 84% year-on-year growth. The net profit was Rs 7.9 crore.
Sequentially, revenues of MsourcE grew 16.4%. The subsidiary had a total of 4,283 persons as of March 31, 04, with an active client list of 19 customers.
(Source: Economic Times)