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The Bangalore-based MphasiS BFL has announced that its board of directors will meet on April 17 to consider a proposal to issue bonus shares on an 1:1 basis.

Further, the MphasiS management revised its guidance for the current fiscal 2003-04, with a revenue growth forecast of 30-35 per cent and a profit growth of 40-45 per cent for the whole group.

The company has exceeded its revenue guidance given 15 months back by reporting a 37 per cent rise in net profit and a 15 per cent growth in revenues for the year ended March 31, 2003.

For the fourth quarter ended March 31, 2003, the company posted a 17.5 per cent rise in net profit to Rs 19.98 crore. The MphasiS board has recommended a dividend of 30 per cent, or Rs 3, on a face value of Rs 10, for fiscal 2002-03.

 

Infosys Technologies will consider a recommendation of dividend on equity shares for the year ended March 31, 2003, along with audited financial results of the company for the quarter (January-March) and year ended March 31, 2003, at its meeting scheduled to be held on April 10, 2003.

Infosys had projected its fourth quarter revenue at Rs 975 crore to Rs 989 crore, a growth of around two per cent compared with 10 per cent achieved in the preceding quarters.

A Reuters poll of 14 brokerages released on Monday showed Infosys would report its January-March earnings to rise 7.2 per cent from the previous quarter.