HTMT net dips 51%

BS 200 SCORECARD

IT and BPO major Hinduja TMT (HTMT) has posted a 51.19 per cent dip in net profit at Rs 11.07 crore during the third quarter ended December 31, 2005, compared with Rs 22.68 crore recorded during the same period of previous financial year.

However, total income rose to Rs 82.42 crore during the quarter under review against Rs 46.86 crore posted during the same period a year ago. The company's net profits were lower due to absence of treasury profits realised and also the discontinuation of minimum guaranteed business from a large telecom client.

HTMT's income from IT rose 94 per cent at Rs 76.46 crore on a sequential basis, while net profits from IT surged 75 per cent, as the company's Manila unit had commenced operations from October 2005. On a year-of-year basis, income from operations grew by 83 per cent.