Hinduja TMT Q2 Net Profit at Rs. 508 crs; IT Operations Income up y-o-y by 91%

Mumbai: 31 st October, 2006: Hinduja TMT Limited (HTMT), at its Board Meeting held today, announced its results for the second quarter ended 30 th September, 2006.

During the quarter, HTMT booked one time gain of sale of the remaining Hutchison stake and other overseas subsidiaries of Rs 680 crs. Net of tax gains from these transactions included in the net profits amount to Rs 486 crs.

HTMT’s Operating Income from ITES/BPO activities for the quarter increased year-on-year by 91% from Rs. 39.42 crores to Rs. 75.39 crores. Profit from ITES/BPO operations rose y-o-y by 191% from 4.12 crores to Rs 12.07 crores.

Sequentially, the ITES/BPO income from operations were stable and increased marginally by 1% from Rs. 74.50 crores to Rs. 75.39 crores, while the Profit before tax from these operations rose smartly from 8.07 crores to Rs 12.07 crores, a rise of 50%. During the quarter, the profitability of the company rose from 11% to 16%. This was possible because of the aggressive cost control initiatives started by the management.

Source : Equity Bulls

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