Mphasis BFL Q1 net dips 30%

New Delhi, Aug 1 (UNI) IT services provider Mphasis BFL today registered a 29.74 per cent fall in net profit at Rs 10.65 crore for the quarter ended June 30, 2006 as compared to Rs 15.16 crore in the same quarter last fiscal.

However, the company's total income rose by 28.36 per cent to Rs 111.37 crore in Q1 FY07 from Rs 86.76 crore in Q1 FY06.

The group has posted a consolidated net profit of Rs 15.16 crore for the quarter ended June 30, 2006 as compared to Rs 33.69 crore for the corresponding quarter last year.

The consolidated income of the group climbed from Rs 225.35 crore in Q1 FY06 to Rs 263.65 crore in Q1 FY07.

''This has been a challenging quarter for us with cost increases from salary hikes eroding our margins,'' Mphasis BFL CEO Jerry Raoof said.

UNI AD PV RN1721