MBT Q3 PAT surges 406 p.c.

By : |January 31, 2006 0

MUMBAI: Mahindra – British Telecom (MBT) has announced a 406% growth in profit after tax (PAT) for Q3FY06.

MBT has recorded consolidated net profit after tax of Rs 75.25 crore for the third quarter ended December 31, 2005 as against Rs 14.85 crore in the third quarter of the previous year.

The company’s income stood at Rs 339.75 crore for quarter ended December 31, 2005 as against Rs. 233.53 crore in the corresponding quarter of the previous year.

The highlights of this quarter were MBT expanding its offerings as well as its footprint through its first strategic acquisition of Texas based Axes Technologies for a cash deal valued at $52.25 million and opening up of a new development centre in Kolkata.

This expansion was supported by a net addition of over 1700 qualified resources, including 880 from Axes, during the quarter bringing the total strength of MBTians to over 8800.

The company also added 15 new customers during the quarter. MBT’s revenues from the US have increased by 340% while those from the Asia Pacific region also showed a healthy rise for the third consecutive quarter in this fiscal year.

The company continued its strong focus on quality and was assessed for SEI’s CMMi at Level 5 for software engineering and systems engineering processes at its Mumbai, Pune and UK development centres. MBT now joins a select group of 50 companies worldwide, which have been assessed at this level.

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