Mphasis BFL announces Q2 net profit of Rs.17.99 Crores, down 22.5%

Mphasis BFL Ltd has announced the following Audited results for the quarter ended September 30, 2006:

The Company has posted a net profit of Rs 179.998 million for the quarter ended September 30, 2006 as compared to Rs 232.251 million for the quarter ended September 30, 2005. Total Income has increased from Rs 959.433 million for the quarter ended September 30, 2005 to Rs 1288.172 million for the quarter ended September 30, 2006.

The Consolidated results are as follows:

The Group has posted a net profit of Rs 233.874 million for the quarter ended September 30, 2006 as compared to Rs 401.642 million for the quarter ended September 30, 2005. Total Income has increased from Rs 2302.240 million for the quarter ended September 30, 2005 to Rs 2850.726 million for the quarter ended September 30, 2006.

Commenting on the results Mr. jerry Rao, CEO and Chairman designate, said "We Have crossed the Rs 500 crore mark in revenues in 6 months this year. We have added more than 1300 people this quarter to take our headcount past the 12,000 mark. While year on year revenue growth is back on track, we are still some ways from getting back to historical margin trajectories. If we continue with improvements, I am quite confident that this too will fall in place. Business from EDS has started flowing and the integration with EDS India is progressing well."

Source : Equity Bulls

Keywords