Bangalore: IT major Mphasis BFL on October 9 reported a net profit of Rs 25.46 crore during second quarter between July and September, an increase of 58 per cent over Rs 16.18 crore during corresponding period last year.

The company's revenue at Rs 142.93 crore this quarter increased by 39 per cent over Rs 102.89 crore during second quarter in 2002, an Mphasis BFL statement said in Bangalore.

Mphasis hired 125 software professionals during the quarter.

"This has been a very good quarter across the group with healthy growth in revenues and profits in both the software and BPO (business process outsourcing) businesses. Software margins have improved despite an appreciation of the Indian Rupee. MsourcE continues to grow rapidly and has recorded a profit this quarter," Mphasis BFL Chairman and CEO Jerry Rao said.

MsourcE, the group BPO subsidiary, recorded revenues of Rs 44.78 crore during the second quarter, a 101 per cent jump compared to Rs 22.34 crore during the same period last year.

During this quarter, MsourcE registered a net profit of Rs 3.56 crores. MsourcE currently has 17 active clients and 3,138 staff, he said.

The group consolidated revenues for first half of the year ended September 2003 have gone up by 42 per cent at Rs 273.2 crores as against Rs 192.4 crores during the same period last year.

Net profits in H1 stood at Rs 45 crores, an increase of 50 per cent over Rs 30 crores during the first half in 2002.

PTI