HTMT announces its Q2 - FY’05-06 results
IT Income at Rs 45.94 crores up by 24% sequentially, PAT rises 15%
Mumbai, October 26, 2005:
HTMT has posted a Total Income of Rs. 45.94 Crores and a Net Profit of Rs. 12.10 Crores for the 2nd Quarter ended 30th September, 2005. Income from I.T. at Rs. 39.48 crores represents a sequential increase of about 24%. Net profits for the quarter rose sequentially by 15%. This was possible largely due to increased volume of business from the overseas BPO / call centre clients and Domestic BPO business that HTMT has decided to make strategic entry into last year.
On a y-o-y basis, revenues were marginally higher to Rs 45.94 crs. from Rs 45.61 crs in the corresponding quarter last year. Net Profits were substantially lower from Rs 21.04 crores last year to Rs 12.10 crores, due to discontinuation of minimum guaranteed business from a large telecom client in the third quarter of the previous financial year.
The highlights of Indian and International IT/BPO operations of HTMT are as under:
• Indian Operations
HTMT’s Indian operations continued to see strong ramp up in Domestic & international call centre accounts of telecom companies and the insurance claim processing accounts for US based Healthcare insurance companies. On back of such ramp-ups, the India delivered BPO (call centre & insurance claim processing) revenues have grown sequentially by 29% during the quarter ended September 2005 over that of the quarter ended 30th June, 2005. The net employee addition of over 1500 in this quarter is the single largest in the history of HTMT, the strength going up from over 2500 in June to about 4100 as on end September 2005, on the back of a large domestic client.
• Philippines Operations
HTMT’s has a substantial presence in Philippines through its subsidiaries Customer Contact Centre Inc (c-cubed) and Source One Communications Asia (SOCA) whose over 1900 employees provide high quality contact centre services to their clients spread across North America and Asia Pacific markets.
In order to achieve its plans to create a unified entity for delivery in Philippines and avail the tax holiday benefits, HTMT has commissioned a branch in Manila with effect from 5th October, 2005. The Company is well on course in its efforts to set up a sophisticated IT Park of its own namely “HTMT Cyber Park”, which is expected to start its operations by end of November this year.
• North American Operations
Post acquisition of Source One Communications, USA, HTMT has successfully integrated the operations of both the entities. During the six months ended September 2005, the North American branches viz. US and Canada have posted a total income of Rs. 10.91 crores (approx USD 2.5 mn).
Hinduja TMT Ltd. (HTMT) is one of India's premier IT/BPO houses, focusing on information technology enabled services (ITeS) and business process outsourcing (BPO) besides IT services. HTMT is ranked among the top 15 ITES-BPO players in India employing over 4500. HTMT's IT/BPO domain expertise is in the areas of Insurance, Financial services, Manufacturing, Telecom, Pharmaceutical Products, Consumer Electronics, Household Products, Energy and Utilities. With delivery centers in Bangalore, Mumbai, Hyderabad, Chennai, Manila, Mauritius, Toronto and New Jersey, the company has marketing offices in the USA, UK and Europe. HTMT has world-class infrastructure in line with global standards of environment, resources and deliverables. HTMT is one of the few companies in the BPO business that has output quality very close to six sigma standards and has set its eye firmly on a continuous improvement program. HTMT has been assessed for SEI CMM Level 4 for software development and is also ISO 9001:2000 and BS 7799 compliant.