Mphasis BFL Q4 net up 17%

MUMBAI: Mphasis BFL has posted a net profit of Rs 19.97 crore for the fourth quarter ended March 31, 2003, up 17.5 per cent compared to a net profit of Rs 16.99 crore for the quarter ended March 31, 2002.

The company has posted a net profit of Rs 67.78 crore for the year ended March 31, 2003, up 37 per cent compared to a net profit of Rs 49.34 crore for the year ended March 31, 2002. Operating revenues for the fiscal have also increased from Rs 18.07 crore in FY02 to Rs 207.99 crore in FY03.





Consolidated results


The group posted a net profit of Rs 18.72 crore for the quarter ended March 31, 2003 compared to a net profit of Rs 13.25 crore for the quarter ended March 31, 2002. Operating revenues of the company have increased from Rs 83.98 crore in the March 2002 quarter to Rs 120.88 crore in the March quarter of 2003.





It has reported a net profit of Rs 66.92 crore for the year ended March 31, 2003 compared to a net profit of Rs 40.98 crore for the year ended March 31, 2002. Operating revenues of the group have increased from Rs 313.34 crore in FY02 to Rs 429.26 crore in FY03.

The board of directors of the company has proposed a dividend of Rs 3 per equity share (on an equity share of par value of Rs 10), subject to the approval of the shareholders at the annual general meeting.

Commenting on the results, Jerry Rao, chairman and managing director, said, "We have completed another successful year as a group and are happy to report results that have exceeded the guidance we gave 15 months ago despite an adverse economic climate, appreciation of the rupee and imposition of taxes in India. While software remained more or less flat this quarter as expected, the loss in MsourcE does not represent a trend and we should see us achieving profitability in the near future."





Revenues are expected to grow by over 100 per cent in MsourcE in the year ending March 31, 2004, with operating profit margin levels in double digits in the second-half of that period.

Source: IRIS