Ma Foi registers 109 per cent growth

Chennai, Feb 14 (UNI) HR services provider, Ma Foi Management Consultants Limited today declared a bottom line growth of 109 per cent for the fiscal ended December 2006.

The company closed the year with gross revenue of Rs 337.39 crore as against Rs 212.58 crore for the same period last year, registering a growth of 59 per cent and a CAGR of 73 per cent, an official release here said.

The net revenue was at Rs 103.70 crore as against Rs 62.31 crore for the corresponding period last year.

India entry businesses contributed to the bottom line with as many as 19 Greenfield projects in IT, manufacturing and Life Sciences.

It was an outstanding year for Ma Foi Search, which registered a 100 per cent growth in top line and over 279 per cent growth in bottom line compared to last year.

In 2006, Ma Foi Search had provided 112 top level placements of which 21 were CEO and COO placements in manufacturing, consumer retail services, energy and infrastructure.

A total of 12954 permanent placements were made in 2006 of which 7587 were through turnkeys and rest through selection database mode.

Flexi staffing business consolidated its Deputee count in India with the number rising from 17961 in January 2006 to 22199 in December 2006.

The assessment practice gained ground with India entry business finding new applications for the offering. Notable among these was an assignment to screen Dealers for a leading automobile manufacturer.

Ma Foi Academy trained 8190 students across 26 locations, with Sri Lanka being their first overseas centre.

The plan was to expand to 50 more centres across the country in 2007.

Ma Foi was a 15-year-old Public Limited company.

Having started in 1992 at Chennai with a focus on recruitment services, Ma Foi has grown to become the largest HR services provider in the country, the release added.

UNI