|HTMT REPORTS THIRD QUARTER 2003 UNAUDITED FINANCIAL RESULTS
Q3 FY 03-04 -TOTAL INCOME UP 54% TO RS. 45.69 CRORES AND NET PROFIT UP BY 37% TO RS. 22.55 CRORES
YTD Dec 03 - Total Income up by 48% to Rs. 121.69 Crores and Net Profit up by 29% to Rs. 60.08 Crores
Mumbai, January 20, 2004: Hinduja TMT Limited
has reported an increase of 54% in its total income at Rs.
45.69 crores for the quarter ended 31st December, 2003 as
against Rs. 29.61 crores in the same period last year. The
net profit for Q3 rose by 37% to Rs. 22.55 crores (Rs. 16.51
crores). Sequentially, the total income grew by 11.25% and
net profit by 11.04% as compared to Q2 of the current fiscal.
In the 9 month period ended 31st December, the total income
at Rs. 121.69 crores grew by 48% year-on-year from Rs. 82.34
crores and the net profit increased by 29% to Rs. 60.08 crores
(Rs. 46.53 crores). This performance is in line with the guidance
given for 2003-2004.
The growth in revenue was due to ramp up of business from
existing customers and acquisition of new clients offering
high volume, high value business during the last quarter in
the BPO space.
Commenting on the company's results, S. Solomon Raj, Vice
Chairman said, "Our disciplined processes and very good
routines of information flow have been well appreciated by
our clients. The realization of constant improvement in performance
metrics and co-creation of value in partnership with them
have enabled us to deliver both short-term results and long
HTMT recently bagged a BPO contract from a large US Health
Benefits Company, thanks to the excellent referral provided
by our existing client in the same sector. The new assignment
is unique in that it involves both transaction processing
as well as Customer Contact Center work in the highly specialized
area of health care BPO business. Training and pilot project
with about 80 transaction processors in 3 modules have commenced
from the 12th January 2004. The business has potential to
grow similar to that of the existing client for whom 600 processors
are already working and HTMT is in the process of setting
up a high-end Call Center employing Medical Doctors.
HTMT has now taken on lease premises admeasuring 80,000 sq.
ft. for building 1400 seat capacity at Bangalore to meet the
expanding requirements of its customers including those of
the new clients. This is in addition to the existing capacity
of 1050 seat 52,000 sq. ft. offshore development center 'HTMT
House' at Bangalore, which is now fully occupied.
HTMT has built strong operational skills and an extremely
good organizational culture, which has helped in being voted
as the second best employee friendly company in the recently
released Dataquest-IDC BPO Employee Satisfaction Survey, next
only to the first name of India off-shoring, GE Capital.
In the insurance claim processing business, HTMT is rated
as the second largest in India by Business World Magazine
in terms of number of processors.
As per revenue, HTMT is ranked among the top 10 BPO players
in India by the Voice & Data Business Communications.
The Company has received SEI CMM Level 4 and ISO 9001:2000
certification respectively for software development and processes
across all segments of its business in IT services, Call Center
and BPO activities.
Deloitte Touche Tohmatsu Asia Pacific Technology Fast 500
Program, 2003 has profiled HTMT as one of the most dynamic
and fast growing technology companies in the Asia Pacific
For more information: Please contact Ms. Sharmila
Banerjee, Vice President (CC) - Phone No. 2-4960707 - Extn.
208/ Mobile No. 9821301212