HTMT'S Q1 IT INCOME UP
57% TO RS 31.74 CRORES, IT NET PROFIT UP 37% TO 15.97 CRORES
HTMT'S Q1 TOTAL INCOME UP
42% TO 34.94 CRORES, NET PROFIT UP BY 21% TO 17.23 CRORES
SET TO DOUBLE ITES CAPACITY AT BANGALORE TO 2450
SEATS
Mumbai, July 24, 2003: Hinduja TMT's Net Profit
from IT Activities (its core business) for the first quarter
ended 30th June 2003 at Rs. 15.97 Crores, registered an increase
of 37% over the corresponding quarter of the previous year.
Revenues from IT activities for the period increased by 57%
to Rs. 31.74 Crores from Rs. 20.23 crores.
Total Income for the quarter ended 30th June 2003 rose by 42%,
to Rs. 34.94 Crores and the net profit by 21%, to Rs. 17.23
Crores as compared to the corresponding quarter of the previous
year. Sequentially, the total income of the company increased
by 9% and the net profit by 11% as compared to Q4 of last financial
year.
According to Mr. Solomon Raj, Vice Chairman
"The flawless execution of our IT strategy that is clear
and focused has resulted in accelerated flow of business to
HTMT. The performance is in line with the guidance and is expected
to gather further momentum with the ramping up for existing
and new contracts".
In order to meet the requirements of customers, HTMT has decided
to expand its IT infrastructure at Bangalore. Apart from the
existing state-of-the-art 1050 seat capacity 65,000 square feet
Offshore Development Centre, the Company is in the process of
acquiring additional premises of 84,000 square feet with 1400
seat capacity at Bangalore. This will more than double ITES
capacity at Bangalore to 2450 seats.
Mr R. Mohan, President & CEO, HTMT IT Division said,
"Of the three new contracts, which HTMT had signed off
recently, a pilot has been successfully completed in respect
of the BPO project and regular work has commenced. Training
for the two Call Center projects has been concluded and networking
is in place. One Call Center will go live from the 31st July
03 and the other from 4th August 03."
"The existing
BPO customer from US has ramped up the current assignment and
added two additional activities for processing with a result
that the number of Processors for the project is likely to go
up from 450 to 550" added Mr Mohan.
The relationship that HTMT has developed for one of its clients
for offshore Call Center services with a company in Philippines
has been strengthened with 100 seats now in operation.
The total staff strength of HTMT's IT division was 1573 as on
30th June 2003, out of which 1371 are for IT Enabled business
(Contact Centre & Business Process Outsourcing).
As per the notification issued by the Government of India, the
CAS project will be implemented in a phased manner starting
from 1st September, 2003. HTMT's subsidiary IndusInd Media and
Communications Ltd (IMC) has completed integration of the CAS
technology with the existing fibre optic back bone in Mumbai
and Delhi and is now fully geared for the CAS launch on 1st
September 03
IMC has obtained solutions for the CAS project from Tandberg
(Digital headend), Nagra (CAS System) and Magnaquest (Billing).
Aided by HTMT's IT team, it has already completed SAP implementation
in record time to strengthen the IT infrastructure for the project.
The company has made arrangements to deploy sufficient number
of TechnoTrend and Wistron models of Set Top Boxes and adequate
arrangements for supply thereof have been made to fully meet
customer demand. Deployment of the boxes will begin
from 1st August 03. |
| |
| For further details please contact: |
|
Mumbai
Mr Kuntal Goel
AVP Corporate Services
HTMT
Cell : 9820347735
Mr Anselm Mendes
Asst. Manager Corporate Communications
Tel: 91-22-2496 07 07 Ext: 228
Cell: 98208-93010 |
Bangalore
Ms. Arathi Vedantham
Head - Marcomm
Cell: 98451 76120 |
Press
Releases
