The profit before tax stood at Rs 4.34 crore, a 72 per cent increase over the previous sequential quarter ended June 30, 2000 and a 122 per cent increase over the Rs 1.95 crore posted in the same quarter ended September 30, 1999.

Revenues for the half year ended September 30, 2000, stood at Rs 81.9 crore compared to Rs 58.94 crore in the corresponding period last fiscal. The profit before tax was pegged at Rs 6.86 crore as against Rs 6.38 crore for the half-year ended September 30, 1999.

The net profit for the half year period was Rs 6.51 crore (Rs 6.03 crore)The consolidated results for the merged entity as per US GAAP pegged revenues at $29.2 million for the six-month period ended September 30, 2000 - an 86 per cent increase compared to the same period last year. Earnings before interest, tax, depreciation and amortization stood at $0.5 million for the quarter ended September 30, 2000.

Briefing the media, the company's chairman Jaithirth Rao said the company expected to post total consolidated revenues of $60 million this year. MphasiS BFL has also submitted a mandate to BNP for a private placement of convertible debentures to raise approximately $10- $20 million (from the domestic market). The funds raised were likely to focus on funding the company's organic growth plans, Mr Rao said.

The company's plans for an ADR have been deferred for the moment.