HTMT Q3 net up to Rs 13.10 crore

Our Corporate Bureau
28 January 2002

Bangalore: Hinduja TMT (HTMT) has posted a net profit of Rs 13.10 crore for the quarter ended 31 December 2001, as compared to a net profit of Rs 12.43 crore in the corresponding quarter of the previous year. This growth has resulted from the companys call-centre activities and other IT-enabled service initiatives. The total income of the company for the quarter was Rs 20.16 crore, as against Rs 22.26 crore, due to the phasing out of its finance activities.

HTMTs revenues from its core business of information technology have shown a sharp increase of 484 per cent to Rs 17.59 crore during the quarter from Rs 3.01 crore in the corresponding period last year. The net profit from the business has surged to Rs 12.04 crore from a loss of Rs 1.32 crore.

During the nine-month period ended 31 December 2001, the share of the IT business in the total income and the net profit has shown a substantial growth when compared to the figures for the corresponding period of the last year as indicated below:

(Rs in crores)
	Up to 31 December 2000	Up to 31 December 2001
Total income	47.96	59.20
Of which ITs contribution	87%	53%
Net profit	30.38	38.06
Contribution from IT business	87%	51%