The Hindu Business Line : MphasiS BFL net rises 49 pc in H1

THE MphasiS BFL group has reported a 49 per cent jump in consolidated net profits for the first half ended September 30 at Rs 66.80 crore, compared to Rs 44.95 crore recorded during the corresponding period last year.

Revenues stood at Rs 368.80 crore, representing a 35 per cent increase over Rs 273.15 crore earlier.

For the second quarter ended September 30, the group's consolidated net profit stood at Rs 31.51 crore (Rs 25.45 crore), a 24 per cent growth, and revenues amounted to Rs 192.99 crore (Rs 142.92 crore), a 35 per cent increase.

While the software services business raked in Rs 122.20 crore, the BPO practice earned Rs 70.79 crore.

During the current quarter, the group added 17 new clients - 15 in the software services segment and two in BPO services.

With a cash balance of Rs 100 crore, MphasiS BFL considers mergers and acquisitions as an "important leg up" to scale up the service offerings.

Mr Ravi Ramu, Chief Financial Officer, told Business Line: "We are looking at various opportunities both in software services and in the BPO space. For BPO itself, likely targets would be in the non-voice processes category with expertise in finance and accounting sector as also the healthcare area among other segments."

The group recorded a decrease in net profit of Rs 3.77 crore in sequential quarters. Mr Jerry Rao, Chairman and CEO, was quoted as saying in a company release that the negatively impacted profits was due to foreign exchange losses.

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