MphasiS BFL net up 14% at Rs 35.16 cr

CORPORATE SCORECARD

MphasiS BFL has reported a 14 per cent increase in net profit to Rs 35.16 crore for the fourth quarter ended March 31, 2006 against Rs 30.96 crore for the quarter ended March 31, 2005. Revenues at Rs. 250.50 crore, are up 22 per cent over the levels of the same quarter last year.

The PBT for this quarter at Rs. 39.42 crore, represents an increase of 34 per cent over Rs 29.40 crore reported for the same quarter last year.

Revenue growth has been 3.3 per cent on a sequential quarter on quarter basis. PBT declined by 4.8 per cent and net profit declined 13.9 per cent on account of the tax charge.

The consistent profitability of the US subsidiary along with the need to recognise the end of the tax holiday in India by 2009 under Indian GAAP and the newly introduced FBT have resulted in a tax charge this fiscal of Rs 5.84 crore as against a deferred tax credit last year.

The MphasiS BFL group consolidated revenues for the year 2005-06 have increased by 23 per cent, from Rs 765.67 crore last year to Rs 940.11 crore. Profit before taxes at Rs 155.7 crore represent a 38 per cent increase over the previous year's level of Rs 112.93 crore.

The net profit after tax for the year ended 31 March 2006 stood at Rs 149.86 crore a growth of 20 per cent over the previous year.

The board has recommended a final dividend of Rs 3 a share for the year 2005-06. This is on the expanded capital base after the 1:1 bonus issue made during the year.

Revenues in the Software Services business have increased from Rs 481.47 crores in 2004-05 to Rs 642.15 crore in 2005-06 a growth of more than 33 per cent. PBT in this business was up 71 per cent.