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MphasiS BFL: Managing risks

(Feb 23, 2005)

One mid sized Indian software company that has shown strong growth in the past and seems to be moving in the right direction as far as focus is concerned in MphasiS BFL. Despite being a mid-sized player, MphasiS has a broad range of service offerings, which includes IT consulting, architecting solution, development & maintenance of applications, transformation of legacy systems, application life cycle maintenance (ALCM), enterprise application integration (EAI) and testing. In this article, we t

MphasiS: Are IT services out of trough?

(Oct 11, 2004)

MphasiS-BFL has announced its results for the second quarter and half year ending September 2004. While topline growth has been strong for both 2QFY05 and 1HFY05, a large foreign exchange loss has led to the bottomline witnessing a decline on a sequential basis for the quarter. Lower cost of sales has, however, helped the company report an improvement in margins during the quarter.

"The vision is to become a major integrated IT and BPO player in the global context..."

(Aug 12, 2004)

Mr. Ravi Ramu is the Chief Financial Officer (CFO) at MphasiS-BFL. He is also a member of the Institute of Chartered Accountants in England and Wales. Mr. Ramu was previously the Senior Partner and Head of the Information, Communication and Entertainment practice at KPMG India and was involved extensively with US GAAP assignments as well as with US Initial Public Offering of shares of leading technology companies. He has also worked in KPMG Holland and in the KPMG International Office in Amsterd

“No news is good news…”

(Jul 12, 2004)

In an interview with us, Mr. Ramu gave us his perspective on the Union Budget and how does it affect the Indian economy in general and the Indian software sector in particular.

MphasiS: In times to come...

(Mar 25, 2004)

MphasiS BFL is one of the very few Indian software companies that have outperformed the Sensex in FY04. However, when one considers the performance of the company vis-a-vis the Sensex in calender year 2004 (January 2004 till date), the stock has clearly under-performed the index. Let us take a brief look at MphasiS and see where the company is headed in times to come.

MphasiS: And miles to go…

(Dec 29, 2003)

MphasiS BFL is one Indian software company that has been the cynosure of eyes for investors in the last one year. Point-to-point, the stock has gained over 98% since the beginning of 2003. Apart of the benefiting from the overall optimism in the Indian stock markets, MphasiS has been rewarded by investors for the improved performance that the company has turned out over the last twelve months.

MphasiS: BPO focus paying off…

(Oct 9, 2003)

MphasiS has reported strong performance for the September quarter with the topline and bottomline growing by 10% and 31% respectively on a sequential basis. The performance on the half-yearly basis has also been good for MphasiS (YoY growth in topline has been 42% while the profits are up by around 50%). While the company has improved upon its operating margins for the quarter by about 200 basis points, for 1HFY04, margins are lower by 300 basis points.

MphasiS: A recap…

(Oct 7, 2003)

One of the first companies from the software sector to announce its results for the September quarter is MphasiS. And before it does so, let us take stock of the company’s performance in the previous few quarters and see where it seems to be moving in the future.

MphasiS: Bracing for growth

(Jul 9, 2003)

MphasiS has announced its 1QFY04 results and has reported a topline growth of 8% and a bottomline growth of 4% sequentially. However, the operating margins for the company have dipped significantly by around 300 basis points. This pressure on margins is because of huge build-up in capacity, both in telecom infrastructure and in people.

MphasiS: Riding the BPO wave

(Jun 30, 2003)

The economic slowdown gripping world economies is, in fact, proving to be a blessing in disguise for India. Lured by the advantages in terms of low-cost, high quality of services that Indian companies offer, international companies are increasingly looking towards Indian shores. BPO (Business Process Outsourcing) is one among them. In this article, we talk about MphasiS-BFL. This company has carved a niche in the BPO sphere and is treading on its way towards a brighter future in this space.

Mphasis: Strong performance

(Apr 9, 2003)

At the first glance it appears that Mphasis has posted a staid performance for the quarter ended March 2003 (4QFY03). The company’s topline has grown by 4% (QoQ), while bottomline has increased by 3%. While the numbers do no look impressive at the first glance, the company’s performance could have been affected by the geo-political developments in the past few months.

MphasiS: Software services shine

(Jan 9, 2003)

MphasiS, has announced a 13% growth, both in topline as well as bottomline (consolidated) for 3QFY03 on a QoQ basis. Growth in topline has been mainly due to a 11% QoQ growth in its dominant revenue stream i.e. software services. MsourcE, the call centre subsidiary has reported a 17% QoQ revenue growth compared to a 54% QoQ growth in September quarter. While the performance of the software services division has been good, the call centre business growth seems lower. Operating margins on the othe

Software: New realities

(Nov 28, 2002)

The September quarter results of software companies have thrown up new realities. While the top rung software companies have done well to protect their turf and grow at a better than expected rate. Second rung software companies have struggled. There have however been a few exceptions like Mphasis BFL that have performed better than expected.

MphasiS: Good show

(Oct 9, 2002)

Mphasis BFL has announced encouraging consolidated 2QFY03 results. The company has reported a 15% growth in its revenues while its bottomline has grown by a steep 16% on a QoQ basis . Software service revenues of the company have grown by 7%, while its call centre subsidiary MsourcE has seen a 56% growth in revenues on a QoQ basis.

Mphasis BFL: Mixed performance

(Jul 9, 2002)

Mphasis BFL has reported of a 7% growth in consolidated revenues and a 4% growth in net profits for 1QFY03, on a sequential (QoQ) basis. Compared to corresponding quarter (1QFY02), the topline and bottomline have grown by 23% and 188% respectively. While the numbers on the first glance look impressive, delving deeper we see signs of strain.

Mphasis BFL: Improving bottomline

(Apr 9, 2002)

Mphasis BFL’s (standalone) 4QFY02 and FY02 numbers highlight the benefits of the aggressive cost cutting measures undertaken by the management. While the topline for the company has not shown impressive growth, the rise in net profit figure is significant.

Call centres: Look before you leap

(Mar 18, 2002)

The recent interest in the software stocks has been based on the ‘call centre play’. Expectations of steep growth have caused buying interest in stocks like Mphasis BFL and Hinduja TMT. While Mphasis BFL has projected a 200% growth in revenues for FY03 from its call centres business, Hinduja TMT (that was known as Hinduja Finance) plans to double its employee strength from the current 600 to 1,200 by June 2002. All of this seems very enticing but be very careful before you, as a retail investor,

Mphasis: Strong numbers

(Jan 22, 2002)

Mphasis BFL has posted an 11% growth in revenues and a 19% growth in net profits, on a QoQ basis for 3QFY02. This translates to a YoY growth of 7% in topline (the figure has been restated for 3QFY00) and a 159% jump in bottomline.

Mphasis: The consolidated numbers

(Dec 11, 2001)

Mphasis’s 2QFY02 performance was superior to many of its peers based on the numbers of the Indian entity. Though topline growth was moderate, the company managed to improve its operating margins significantly. However, a look at the group’s consolidated numbers reveals a very different picture.

Mphasis: Good show

(Oct 16, 2001)

Mphasis-BFL has posted a 2% sequential growth in revenues and a significant 54% growth in net profits (QoQ) for 2QFY02. The stellar growth in profits is due to a large other income component. However, the most positive aspect of the result is that the company has significantly increased its operating margins. The operating margins have jumped from 23.4% in 1QFY02 to 29.1% in 2QFY02.

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