Mphasis BFL surges ahead on 1:1 bonus doleout

DALAL STREET SPIKES

The Mphasis BFL scrip was up 2.63 per cent to Rs 249.75 after the company's shareholders agreed for a bonus issue. The scrip closed at Rs 243.35 on Thursday. The bonus issue is in the ratio 1:1. Mphasis has two key divisions i.e. the BPO and IT services.

Mphasis acquired Princeton Consulting for $14 million in February this year followed by the acquisition of El Dorado for $ 16.5 million in March. Last year the company had acquired Bangalore-based Kshema Technologies for approximately $21million.

The company's consolidated net profit for quarter ended June 2005 rose 8 per cent to Rs 33.33 crore from Rs 30.96 crore in Q4 March 2005. Net sales rose 7 per cent to Rs 219.70 crore from Rs 205.08 crore in Q4 March 2005.