HTMT Q2 net at Rs 158 million, income rises to Rs 282 million

Our Corporate Bureau
23 October 2002

Mumbai: Hinduja TMT has reported a net profit of Rs 158.4 million for the quarter ended 30 September 2002 as compared to Rs 70.19 million for the quarter ended 30 September 2001. The total income has increased from Rs 131.05 million in SQ-2001 to Rs 282.06 million for SQ-2002.

HTMT, at its board meeting held on 22 October 2002, approved in-principle the merger of two of its media-content subsidiaries - IndusInd Entertainment, which operates the popular local channel In Mumbai, and Cable Video India, which operates the Hindi movie channel CVO - into InNetwork Entertainment, its subsidiary for all its media-content business.

Says HTMT vice-chairman S Solomon Raj: “The tremendous growth in our performance during the first half of the current fiscal as compared to the previous year was due to the ramping up of our core activity of IT and IT-enabled services (ITES). The results are in accordance with the guidance for FY 2002-03.”

HTMT has raised the capacity of its call centre business in Bangalore by another 100 CSRs (customer service representatives) in October 2002. This follows its ramp-up in capacity by 100 CSRs in August 2002 and another 100 CSRs in September 2002. The company has currently 330 seats (660 CSRs) operational in its call centres.

The client, a large US-based telecom company, highly satisfied with the performance of HTMT, has ramped up to the present level and conveyed its intention to further increase the capacity in future. HTMT has the capacity to provide over 900 seats in its call centres on both server- and switch-based technologies.

HTMT was also successful in securing a new contract for claim processing from another client, a large health insurance company from the US, with a requirement of 40 processors, which will take the total number of claim processors to 400.