HTMT net slips

BS 200 SCORECARD

IT and BPO major Hinduja TMT Ltd (HTMT) has posted a lower net profit of Rs 10.54 crore in first quarter ended June 30, 2005, compared with a net profit of Rs 18.98 crore recorded during the first quarter of the previous financial year.

The company's total income fell to Rs 41.15 crore during the quarter under review, as against Rs 45.33 crore posted during the same period a year ago, HTMT said in a release on Saturday.

The company's BPO revenues from India, including call centre and insurance claim processing, grew by 12 per cent in the quarter over the previous quarter.

The company's Indian employee base rose 15 per cent to 2,923 as on date, from 2,542 registered as on March 31, 2005.

HTMT's global manpower rose to 4,700 personnel during the quarter, up from 4200 recorded during the previous quarter.

The company, in order to meet the demand of ramp up in existing accounts and for new business, started its process of building additional 2,000 seats across India, Philippines and North American delivery centres.

The company is also in the process of opening a branch for its Manila delivered IT/BPO operations after which the financial performance of its Philippines-based subsidiaries - Customer Contact Centre Inc and Source One Communications - would be combined along with that of other geographies like India, US, Canada and Mauritius.