HTMT posts Rs 203 m profit for Q2 '03

MUMBAI: New BPO clients and resource optimisation have helped Hinduja TMT post net profit of Rs 203 million for the quarter ended 30 September, 2003, 18 per cent up from the earlier quarter.

According to a company statement, HTMT reported an increase of 45 per cent in its total income at Rs 410 for the second quarter, as against an income of Rs 282 million in the same period last year. In the first half of the year, the company has posted an increase of 44 per cent year on year, with a total income of Rs 760 million, while net profit increased by 25 per cent to Rs 375 million. Profit after tax to total income in H1 was 49 per cent, the company claims.

Meanwhile, HTMT, which has been ranked the second largest healthcare BPO company in India by Business World magazine recently, has also acquired controlling interest and management control in c3, a call centre in Manilla, Philippines. This was disclosed at the HTMT board meeting today. The board has approved the acquisition controlling interest in c3 against a purchase consideration of USD 3.9 million, a notice to the BSE says.

HTMT's claim processing business for a 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. 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.

Dataquest, IDC's employees' satisfaction survey 2003, the first ever of its kind in the country, has ranked HTMT second after GE Capital among the top 15 BPO companies in India. The company has also started the execution of a new Call Centre contract from a broadband communication company from August 2003 with 54 Customer Service Representatives for order administration, technical help desk etc. The staff strength now at 172 CSRs, is likely to go up to 350 CSRs by 31 March, 2004, the company says.

The IT services wing of HTMT has recently received CMM Level-4 certification for software development and maintenance signifying its process maturity and control, the company statement says. The company 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, now fully occupied.

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