HTMT has posted a net profit of Rs.13.10 Crores for the quarter ended December 31, 2001 as compared to a net profit of Rs. 12.43 Crores in the corresponding quarter of the previous year. This growth has resulted from the company's Call Center activities and other IT Enabled service initiatives.

The total income of the Company for the quarter was Rs.20.16 Crores as against Rs. 22.26 Crores due to the phasing out of its finance activities.

HTMT's revenues from its core business of information technology have shown a sharp increase of 484% to Rs. 17.59 Crores during the quarter from Rs. 3.01 crores in the corresponding period last year. The net profit from the business has surged to Rs. 12.04 Crores from a loss of Rs. 1.32 Crores.

During the 9-month period ended December 31, 2001, the share of the IT business in the total income and the net profit has shown substantial growth when compared to the figures for the corresponding period of the last year as indicated below: -

The IT revenues of the Company have also shown a sequential growth (Q3 over Q2) of 31.21% from Rs. 13.40 Crores to RsCrores.

The above figures will illustrate the morphing of HTMT into an information technology Company.

The Call Center set up by the Company in Bangalore has started of with its first client, a large US telecom company with an initial capacity of 180 seats, being ramped up to the contracted 540 seats and is functioning to the full satisfaction of the customer. HTMT is upgrading the Call Center in a phased manner by not only increasing the number of seats but by reinforcing its capabilities to handle comprehensive business processing services.

HTMT is a debt-free Company and its networth as at the end of December 31, 2001 stands at Rs. 377 Crores with a book value of Rs.106/- per share.

HTMT has focused on IT services (covering Systems Integration, ERP Implementation, Software Maintenance and Development and Internet Solutions) and IT enabled services (broadly covering Business Process Outsourcing including Call Centers). HTMT has developed expertise in the domain areas of manufacturing, automobile, telecom, banking and financial services.

"While the Company has been able to get into high-end IT enabled businesses, the recent appointment of Mr. R. Mohan (ex MD, BFL Software) as the Chief of our IT services segment will enable us to expand the scope of our businesses in the sophisticated solutions arena", said Mr. S. Solomon Raj, Vice Chairman of the Company.

HTMT has its subsidiaries in USA, UK and France and is in the process of tying up with a large electronics group in Germany for marketing its services and consolidating its operations in Europe.

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