UNAUDITED FINANCIAL
RESULTS OF HINDUJA TMT LTD. FOR THE QUARTER ENDED 30TH SEPTEMBER,
2003
Q2 -Total Income up 45% to Rs. 41.06 Crores and Net
Profit up by 28% to Rs. 20.30 Crores
1st Half - Total Income up by 44% to Rs. 76 Crores and Net Profit
up by 25% to Rs. 37.53 Crores
Mumbai, October 30, 2003: Hinduja TMT has reported
an increase of 45% in its total income at Rs. 41.06 crores for
the quarter ended 30th September, 2003, as against Rs. 28.20
crores in the same period last year. The net profit for Q2 rose
by 28% to Rs. 20.30 crores (Rs. 15.84 crores). Sequentially,
the total income grew by 17.53% and net profit by 18% as compared
to Q1 of the current fiscal.
In the first half, the total income at Rs. 76 crores increased
by 44% year-on-year against Rs. 52.81 crores and the net profit
increased by 25% to Rs. 37.53 crores (Rs. 30.08 crores). PAT
to total income in H1 was 49%. The performance is in line
with the guidance given for 2003-2004.
The company has attributed the growth to continuous ramp
up of business from existing clients and acquisitions of new
BPO clients as also resource optimisation.
HTMT also has been ranked as 2nd largest healthcare BPO Company
in India by the Business World Magazine recently. HTMT's value
proposition of excellence in processes and execution continuously
strengthens its relationship with its customers. The fact
that our claim processing business for a large US health insurance
company which started at Bangalore with 23 processors in August
2000 has now grown into a business of around 600 processors
handling about 1.8 mn claims per month will bear testimony
to this partnership of value creation. A disaster recovery
center for the business of the above client is being set up
at Mumbai in the premises owned by HTMT's subsidiary - InNetwork.
As per final ranking of DATAQUEST - IDC's employees' satisfaction
survey 2003, the first ever of its kind in the country, HTMT
has been ranked 2nd after GE Capital among the top 15 BPO
companies in India. Since GE Capital is a foreign owned company,
the survey places HTMT as No.1 among the Indian BPO companies
covered by the study.
According to Mr. S. Solomon Raj, Vice Chairman, HTMT, "This
is a fitting endorsement of our HR Policy founded on the principles
of fair process. Our firm faith in and practice of the core
value of employee empowerment mould each employee into a value
builder and brand ambassador".
The execution of a new Call Centre contract from a broadband
communication company has commenced in August, 2003 with 54
Customer Service Representatives for order administration,
technical help desk etc. The staff strength now increased
to 172 CSRs, is likely to go up to 350 CSRs by 31st March,
2004.
The IT services wing of HTMT has recently received CMM Level-4
certification for software development and maintenance signifying
its process maturity and control.
HTMT has recently taken on lease premises admeasuring 80,000
sq.ft. for building 1400 seat capacity at Bangalore to meet
the expanding requirements of existing clients and the needs
of customers in the pipeline. This is in addition to the existing
capacity of 1050 seat 52,000 sq. ft. off-shore development
center at Bangalore, which is now fully occupied.
HTMT continues to be debt-free with a networth at Rs. 461
crores as on 30th September, 2003. The Company has sufficient
cash resources to meet its expansion needs.
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