The MphasiS BFL Group has posted a 189 per cent increase in net profit in the first quarter of 2002-03 at Rs 13.85 crore, over the corresponding period of last year.
The net profit for the current quarter also represents an increase of 4.5 per cent over the Rs 13.26 crore posted in the last quarter of 2001-02.
Consolidated revenues at Rs 89.52 crore in the current quarter have increase 23 per cent over the same quarter last year.
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The improvement in net profit over last year is due to improved gross margins and a reduction in selling, general and administrative expenses that have come down to 12.3 per cent of the revenue earned in this quarter, compared to 17.4 per cent in the corresponding period last year.