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Journalism of Courage
Bangalore-based Mphasis BFL, an applications and BPO services company in which global IT services giant EDS wants to acquire controlling stake, today posted a net profit of Rs 35.16 crore for the quarter ended March 2006, a 14 per cent jump over the year-ago period. Revenues during the quarter rose 22 per cent to Rs 250.50 crore compared to the same quarter last year.
The net income for the year ended March 31, 2006 grew by 20 per cent to Rs 149.86 crore over the year-ago period, the company said in a statement here.
It said the board of directors approved a final dividend of Rs 3 per share for the fiscal 2005-06.
8216;8216;Revenues in software services business have increased from Rs 481.47 crore in 2004-05 to Rs 642.15 crore in 2005-06, a growth of more than 33 per cent. This has been somewhat offset by the BPO business where the revenue growth has been muted at 4.8 per cent to Rs 297.96 crore and an 18 per cent PBT decline,8217;8217; the release said.
Expressing satisfaction with the results, Mphasis chairman and CEO Jerry Rao said, 8216;8216;our IT business has shown excellent growth and profitability. It has turned around remarkably in the past year. Our BPO business has remained steady despite several challenges faced in the beginning of the year.8217;8217;
The firm added 14 new clients, including two in the BPO business. During the quarter ending March 31, 2006, the group added 591 employees including 477 in bpo to take the total strength to 11,414 as on March 31. This represents an increase of 3,039 employees during the year including 2,247 in BPO.
Igate Global
BANGALORE: Igate Global Solutions Igate, the integrated technology and operations company, notched up a net profit of Rs 22.83 crore in FY 06 as against Rs 20.79 crore in FY 05, an increase of 9 per cent year-on-year.
The net profit in Q4 FY06 rose to Rs 4.7 crore from Rs 1.5 crore in the same period last year, Phaneesh Murthy, CEO, Igate Global Solutions, told reporters announcing its results for the fourth quarter and year ended March 31, 2006.
