MphasiS BFL revenue up 13% YoY

BANGALORE: The MphasiS BFL Group’s consolidated net profit increased to

Rs.8.98 crore for the quarter ended 30 September 2001, compared to a net loss of

Rs.2.18 crore in the same quarter last year, representing an improvement of 512

per cent. Consolidated revenues in the current quarter increased by 13 per cent

over the corresponding quarter of the previous year to Rs 76.29 crore compared

with Rs 67.81 crore.

Commenting on the results, Jerry Rao, chairman and CEO, said, "We are

proud of the fact that we have strengthened and deepened our client relationship

in these difficult times." He said, "Our bottom line growth has come

about in large measure through reduced costs and this continues to be an area of

focus and concerted action for us."

Other income includes the foreign exchange gain of Rs 2.77 crore against Rs

1.05 crore in the corresponding quarter of last year. An amount of Rs 2.44 crore

has been provided as a one-time charge in the current quarter towards

restructuring costs relating to its European business including the closure of

the healthcare product line.

Revenues have grown by 5.5 per cent on a quarter on quarter basis. Net

profits on a quarter on quarter basis have increased by 64 per cent. The Group

added six new clients this quarter and had a utilization rate of 70 per cent.

MsourcE, the Group call-center subsidiary, achieved revenues of Rs 5.35 crore

in the quarter ended 30 September 2001, as against Rs.0.54 crore in the

corresponding quarter last year. MsourcE currently has six active customers, two

of which were added in this quarter.