Mbt Profit After Tax Up 72%

Mahindra British Telecom has announced a 53 per cent increase in turnover at Rs 142.9 crore for the second quarter ended September 30, while profit after tax jumped 72 per cent to Rs 36.7 crore over the corresponding quarter of the previous year.

Income for the half year ended September was Rs 267.3 crore and profit after tax was Rs 63.2 crore, an increase of 56 per cent and 51 per cent respectively over the corresponding period last year.

Earnings per share was Rs 3.63 against Rs 2.11 in the corresponding quarter last year. The EPS has been calculated after taking into effect sub-division of equity of Rs 10 into 5 shares of Rs 2 each. The revised depreciation policy as per US Gaap has also been taken into account while finalising accounts.

The increased offshore work at the development centres in Mumbai and Pune, as well as the emphasis on cost control measures in view of the current business environment has resulted in the greater profitability figures, the company said.

MBT has four software development centres in India and two in UK. It also has 21 marketing offices spread over the UK, USA, Europe, Asia Pacific, Middle East and India. Its current employee strength is about 2,300.