| The Mphasis BFL Group, engaged in software services exports and BPO operations, has registered a consolidated net profit of Rs. 16.13 crore for the second quarter of financial year 2002-03 as against Rs. 10.02 crore in the same period last fiscal, representing a growth of 61 percent.
Consolidated revenue increased by 35 percent to touch Rs. 102.89 crore in the same period.
The net profit for the current quarter also represents an increase of 16.2 percent over the Rs. 13.89 crore posted in the previous sequential quarter, while revenue posted an increase of 14.9 percent for the same period.
Commenting on the results, Mphasis BFL group chairman Jerry Rao said,"This has been a quarter of growth not only on our top line, but in our margins as well. Our software business has grown after a couple of quarters with a marked improvement in gross margins. MsourcE too has been on track and recorded a profit for the second year in a row".
The software services revenue of the company stood at Rs. 80.55 crore showing an increase of 7.5 percent on a sequential quarter on quarter basis; while gross margins increased by 3.1 percent in the same period.
Source: The Financial Express
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