The Hindu Business Line : HTMT full year net up at Rs 87.41 cr

Bangalore, May 27 The spectre of reduced IT spend would not affect HTMT Global Solutions in the coming year as its successful revision in the prices last year by 10 to 25 for different clients would offset any short-term impact.

The company also had natural protection as its services did not cover the industries which were vulnerable to the US economy’s slow down. It did not operate in the mortgage and inbound telemarketing verticals, which a company official said were vulnerable to the uncertainties of the current global business environment.

Mr Partha De Sarkar, Chief Executive Officer, said the company would maintain a growth of 47 per cent in its revenue against the industry average of 35.5 per cent. He said with the rupee also depreciating against the dollar, HTMT saw no adverse on its growth momentum. Rupee had depreciated by about 7 per cent in the last six to seven weeks to touch over Rs 43 to a dollar last week.

HTMT has recommended a dividend of 100 per cent (Rs 10 per share on each share of Rs 10 face value) for fiscal 2008. During the quarter ended March 31, 2008, its net profit was Rs 24.12 crore on a consolidated revenue of Rs 173.41 crore. The figures for the full year were Rs 87.41 crore and Rs 673.87 crore respectively as compared with last year’s figures of Rs 58.8 crore and Rs 357.98 crore.

HTMT, a global IT and ITeS company, had added 1,200 seats during the year taking over tally to 9,600 seats. It won 17 new customers during the year.

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