The Hindu Business Line : Hinduja TMT net up 37 pc in Q3

HINDUJA TMT Ltd has posted a net profit of Rs 22.5 crore for the quarter ended December 31, a 37- per cent growth compared to Rs 16.5 crore recorded during the corresponding period of last year.

The company's total income registered a 54-per cent jump from Rs 29.61 crore in the third quarter of the previous year to Rs 45.69 crore in the quarter ended December 31. Commenting on the results, Mr S. Solomon Raj, Vice-Chairman, said in a press release, "The realisation of constant improvement in performance metrics and co-creation of value in partnership have enabled us to deliver both short-term results and long-term growth." In the nine-month period ended December 31, the total income at Rs 121.69 crore reflected a 48-per cent growth year-on-year, up from Rs 82.34 crore recorded in the previous corresponding period. Net profit increased by 29 per cent to Rs 60.08 crore (Rs 46.53 crore). The financial performance is in line with the guidance given for 2003-2004, the release said.

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, the company registered a growth in revenue.

Recently, HTMT bagged a BPO contract from a large US health benefits company involving both transaction processing and customer contact centre work. The business has potential to grow on similar lines as that of the existing client, for whom 600 processors are already working.

Incidentally, HTMT is in the process of setting up a high-end call centre employing medical doctors.

The company has taken premises on lease measuring 80,000 sq. ft. for building a 1,400-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 1,050-seat 52,000 sq. ft. offshore development centre `HTMT House' at Bangalore.