Hughes Soft posts 110 per cent rise in Q3 net
By Our Corporate Bureau | 09 Jan 2004
New Delhi: Hughes Software Systems, which develops software for telecom companies, today said that its net profit for the third quarter rose by 110 per cent as it had bagged more orders.
Net profit grew to Rs 23.9 crore from Rs 11.4 crore in the same quarter a year back. Sales stood at Rs 96.5 crore over Rs 57.1 crore earlier, company officials said.
"All aspects of the business are doing well. The services part has seen significant growth, while our products and business from Hughes Network Systems (HNS) is stable," said Mr Arun Kumar, President and Managing Director, HSS.
He added that the company expects to grow at 62-64 per cent year-on-year to Rs 356-361 crore in the current fiscal.