Hinduja TMT Q1 net up by 21 per cent

MUMBAI: The numbers for Hinduja TMT are in. Total income and net profit for the quarter have travelled north by 42 per cent and 21 per cent respectively. 

Hinduja TMT's total income for the quarter ended 30 June 2003 has gone up by 42 per cent to Rs 349.41 million while the net profit by 21 per cent to Rs 172.32 million vis-?-vis the corresponding quarter of the previous year.

Sequentially, the total income of the company increased by nine per cent and the net profit by 11 per cent as compared to Q4 of last financial year.

Out of these figures, HTMT's media telecom segment accounts for Rs 21.85 million in total income which is a fall from Rs 25.37 million in the previous year's corresponding quarter.

The board of directors has recommended a dividend of 70 percent for the financial year 2002-2003. Basic and diluted earning per share ( not annualised ) stands at Rs 4.21 for JQ 2003 up from Rs 4.0 for JQ 2002.

Regarding its non-core business segment, media - telecom, HTMT claims to have already completed integration of the conditional access system (CAS) technology with the existing fibre optic backbone in Mumbai and Delhi. Come September, it says it would be fully geared to jump into the CAS fray.

Warming up for the CAS launch, IndusInd Media and Communications Ltd (IMC), the media arm of HTMT, has put various operational solutions in place.

A communication from HTMT says they have already obtained digital solutions for the CAS project from Tandberg. CAS system solutions - read set top boxes - will be provided by Nagra and billing solutions by Magnaquest. The company will deploy TechnoTrend and Wistron models of set top boxes starting from 1 August 2003.

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