Mphasis-BFL emerges in black

BANGALORE: Mphasis-BFL has announced a profitable quarter after showing losses for two consecutive quarters. The company has shown 80 per cent increase in revenues to $14.41 million for the April-June 2000 quarter.

According to a release, the higher revenues were also a result of an almost five times jump in revenue of Emphasis Corporation of US to $5.3 million from $1.1 million in the corresponding period of last year. Commenting on teh results, BFL-Mphasis chairman Jerry Rao said, "It is heartening for us to note the return of BFL Software to profitability one quarter ahead of target on a trajectory that leaves us ahead of the operating plan. We have every reason to be cautiously optimistic about the future."

Meanwhile, company managing director R. Mohan has asked the board to relieve him of his post with effect from August 15, the release added. In rupee terms, the total revenue went up to Rs 40.61 crore against Rs 29.42 crore during the corresponding period of last year. Profit after tax was Rs 2.37 crore against Rs 4.20 crore of the same quarter of 1999-2000.