The Hindu : Business : Mphasis BFL group net up 28 p.c.

Online edition of India's National Newspaper
Wednesday, Jan 12, 2005

Business

Business

Mphasis BFL group net up 28 p.c.

By Our Staff Reporter

BANGALORE, JAN. 11. The Mphasis BFL Group's consolidated revenues for the nine months ended December 31, 2004 have gone up by 33 per cent to Rs. 560.59 crores from the previous year, whilst the net profit has increased by 28 per cent to Rs. 93.66 crores.

According to Jerry Rao, Chairman and CEO, the group's consolidated net profit was Rs. 26.86 crores for the quarter ended December 31 against Rs. 28.50 crores in the same period in the previous year.

While software services revenues in the current quarter at Rs. 117.34 crores rose by 17 per cent on a year-to-year basis, the quarter-on-quarter amount is marginally lower. Billing rates were stable at $62 and $20 per hour for onsite and offshore services, respectively while receivable days are stable at 56.

The BPO business at present has 33 active clients and 5,601 staff, an increase of 591 people in the current quarter. The contribution from business process work has significantly increased to 20 per cent.

Sonata Software

Sonata Software has recorded a rise in revenues in the third quarter ended December 31, 2004, going up to over Rs. 25.20 crores from Rs. 16.30 crores in the same quarter in the previous year, the growth being 54 per cent. The profit after tax was Rs. 4.22 crores against Rs. 2.86 crores. The President and Managing Director of the company, B. Ramaswamy, said the growth had been due to consolidation of customer relationships and the company's investment in infrastructure and development facilities to meet the growing needs of the customers. He said domestic sales and services accounted for Rs. 55.10 crores, a growth of 76 per cent, while exports grew 68 per cent (from Rs. 19.40 crores to Rs. 32.50 crores).

Exide Industries

Exide Industries has recorded a 23 per cent jump in its net profit during the quarter ended December 31, 2004. Gross sales were Rs. 367.96 crores against Rs. 287.83 crores and the net profit Rs. 20.93 crores against Rs. 16.99 crores. The automotive segment continued to show robust growth in original equipment and retail segments. The industrial battery segment, which constituted 40 per cent of the company's total revenue, also saw encouraging growth, says a release.

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