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.