BFL Q1 net dips 17.4%

By : |July 14, 1999 0

Bangalore-based BFL Software Limited reported a dip in net
profit of 17.4 percent for the first quarter (Q1) of 1999-2000 over the corresponding
quarter of the previous period. BFL said its Q1 profits stood at Rs 4.20 crore against the
net profit of Rs 5.09 crore in Q1 of 1998-99. Total income during the same period,
however, rose 30 percent to Rs 29.42 crore from Rs 22.55 crore. BV
Venkatesh, Managing
Director, BFL, said the dip in net profit was due to the change in the depreciation
policy, the investments in marketing and capacity building for the future and setting
aside of Rs 93.53 lakh for employee stock option. The change in depreciation policy has
resulted in an additional charge of Rs 82.34 lakh in Q1 of this fiscal.

Meanwhile, BFL announced that it has signed a memorandum of
understanding to acquire Complex Systeme of Germany, a healthcare software solution
company, for $1.50 million to be paid over three years.

No Comments so fars

Jump into a conversation

No Comments Yet!

You can be the one to start a conversation.