Q2 net at Rs. 7.07 crores
1st Half Net at Rs. 17.28 Crores

HTMT's revenues from IT , its predominant activity, for the quarter ended 30th September, 2001 grew from Rs. 10.56 Crores for the quarter ended 30th June, 2001 to Rs. 13.40 Crores, a growth of 27 % .Net Profit from IT activities grew 57% over the earlier quarter from Rs. 5.58 Crores to Rs. 8.74 Crores.

On the overall basis, for the 2nd quarter ended 30th September, 2001, HTMT has reported a Profit after Tax of Rs. 7.07 Crores as compared to Rs. 9.53 Crores for the corresponding quarter in the previous year. The fall in income is attributable to HTMT phasing out its finance activities.

For the half-year ended September 30, 2001, the Total Income and the Net Profit were Rs. 27.79 Crores and Rs. 17.28 Crores as compared to Rs. 36.93 Crores and Rs. 25.63 Crores respectively in the corresponding period last year again largely due to reduction in finance activity. The Net Worth as on September 30th, 2001 was Rs. 364 Crores and the Book Value per share was Rs. 102. HTMT is now a debt free company.

"Thanks to contracts on hand, we expect to do well in the second half of the year" said Mr. S. Solomon Raj, Vice Chairman.

Recently, HTMT bagged a 3 year call center contract for servicing in-bound calls from potential customers of a large US Telecom Company with an initial capacity of 180 seats and over 360 call service representatives (CSRs), which is proposed to be increased and upgraded in a phased manner to 540 seats and over 1000 CSRs during the contract period.

HTMT's new state of the art Off Shore Development Centre (ODC) and Call Centre at Bangalore are being equipped with firewalls, redundant links for domestic and international connectivity of 7 MBPS capacity for both voice and data and full power back-up. The ODC measures upto international standards in all respects. The total staff strength of the IT segment exceeds 500.

HTMT in addition to positioning itself as an operating IT Company also plays the role of an active parent for its subsidiaries in the TMT Sector brought within its fold. These subsidiaries continue to grow and maintain their pre-eminent position in the areas of cable television, broadband Internet, local television programming, movie channel and movie based programming. Fascel, HTMT's joint venture with Hutchison Max, continues to be the largest single circle (excluding metros) cellular operator in the country. Under its supervision, the Media and Telecommunication subsidiaries have been financially, technologically and managerially strengthened to enhance shareholder value.