| Unaudited
Financial Results (Provisional) Fy 01-02
Hinduja
TMT ('HTMT') Net Rises 300% To Rs. 16.01 Crores In Q4 Net
Profit For Fy 2001-02 At Rs. 46.40 Crores
HTMT, the New Economy vehicle of the Hinduja Group, has posted
482% increase in the total income to Rs. 25.00 Crores and
a 300% increase in the net profit to Rs. 16.01 Crores for
the quarter ended March 2002 as compared the corresponding
quarter of the previous year. For the quarter, Income from
its core business of IT, increased by 123% to Rs. 14.34 Crores
and net profit by 135% to Rs. 7.69 Crores.
The
total income for the year ended March 2002 increased by 18%
to Rs. 72.97 Crores and the net profit by 10% to Rs. 46.40
Crores as compared to the previous financial year. The increase
in net profit is smaller because the company was phasing out
its finance function during the year. The company has closed
its equity trading activities from 1st April, 2002.
During
the year, Income from IT activities grew by 48%, from Rs.
37.83 Crores to Rs. 55.89 Crores and the net profit increased
by 50%, from Rs. 22.61 Crores to Rs. 34.07 Crores.
The
above performance was taken on record by the Company's Board,
which decided to meet again on 22nd April, 2002 for considering
an interim dividend for FY 2001-02.
HTMT's
employees in its IT division were 953 as on 31st March 2002
as compared to 358 in the previous year due to the ramp up
in the company's IT enabled business. The total number of
employees in HTMT's IT enabled business increased from 111
as on 31st March 2001 to 773 as on 31st March, 2002 (Call
center business - 472 and claim processing business was 301).
HTMT's workforce is likely to grow beyond 1500 at the end
of the current fiscal.
According
to Mr. Solomon Raj, Vice Chairman " Going by the current
trend and available opportunities, we are likely to emerge
as a leading IT enabled services Company with a brand for
quality and customer care. As the company implemented its
call center business during the 3rd quarter of the last financial
year, the real impact of ramp up in our IT enabled orders
would be reflected in the current year".
Barring unforeseen circumstances, HTMT expects its IT revenues
to increase 100 - 110% and the net profit there from to increase
by about 70% in FY 2002-03 on the basis of contracts on hand.
The bulk of the contribution would come from the IT enabled
business.
HTMT's
book value as on 31st March 2002 was Rs. 110 per share and
the basic and diluted earning per share stands at Rs. 13.04.
The company continues to remain debt free with cash on hand
for the year ended 31st March 2002 amounting to Rs 41.75 crores.
HTMT,
besides positioning itself as an operating IT Company, 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 HTMT's supervision, the Media
and Telecommunication subsidiaries have been financially,
technologically and managerially strengthened to enhance shareholder
value.
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