| Hinduja TMT Q2 Net Profit at Rs. 508 crs
IT Operations Income up y-o-y by 91%
Mumbai, October 31, 2006
Hinduja TMT Limited (HTMT), at its Board Meeting held today, announced its results for the second quarter ended 30th September, 2006.
During the quarter, HTMT booked one time gain of sale of the remaining Hutchison stake and other overseas subsidiaries of Rs 680 crs. Net of tax gains from these transactions included in the net profits amount to Rs 486 crs.
HTMT’s Operating Income from ITES/BPO activities for the quarter increased year-on-year by 91% from Rs. 39.42 crores to Rs. 75.39 crores. Profit from ITES/BPO operations rose y-o-y by 191% from 4.12 crores to Rs 12.07 crores.
Sequentially, the ITES/BPO income from operations were stable and increased marginally by 1% from Rs. 74.50 crores to Rs. 75.39 crores, while the Profit before tax from these operations rose smartly from 8.07 crores to Rs 12.07 crores, a rise of 50%. During the quarter, the profitability of the company rose from 11% to 16%. This was possible because of the aggressive cost control initiatives started by the management.
Hinduja TMT (HTMT) is Hinduja Group's 'one stop shop' for providing customized IT solutions for customers' needs in the areas of Information Technology - Contact Center services and Back Office Processing. HTMT is listed in the bourses at Mumbai and has also been ranked by Forbes Magazine in October 05 as one of the ‘200 Best under $1 billion Companies in Asia”. HTMT has IT/BPO domain expertise in Insurance, Financial services, Manufacturing, Telecom, Pharmaceutical Products, Consumer Electronics, Household Products, Energy and Utilities. HTMT presently runs delivery centers in Bangalore, Mumbai, Hyderabad, Chennai, Manila, Toronto and New Jersey, and marketing offices in the USA, UK and Europe. HTMT is also ISO 9001:2000 and BS 7799 compliant.
About Hinduja Group
The Hinduja Group is one of the largest transnational business conglomerate in the world with diversified operations. Founded in 1914 by Shri P.D. Hinduja the Group provides a wide range of products and services worldwide. The Group’s activities are divided into three core areas such as, Investment Banking, Global Investments and the International Trading. The Hinduja Group is quick to grasp new opportunities and is expanding its investments and advisory services across
international markets. As a part of the Global investments the Group owns stakes in Automobile, ITeS, Entertainment & Communications, Banking & Finance, Chemicals & Energy, Project Development, Healthcare and Real Estate.
For more information please contact:
Mr. Yagnesh Sanghrajka, Global CFO, HTMT @ 99456 04228.
Mr. Ratnanand. R, Clea PR, Bangalore @ 99452 33252.
Mr. Jayaram. R, Clea PR, Mumbai @ 98672 12997.