ITV

Tag: Hutchison Max

  • Rs 940 million FDI application in Hindustan times cleared

    Rs 940 million FDI application in Hindustan times cleared

    NEW DEHI: The Indian government today approved 57 foreign direct investment (FDI) proposals worth more than Rs 6.3 billion, including increase in foreign equity in Hindustan Times Media and restructuring of Hutchison Max in India.

    The FDI applications, amounting to Rs 6339.8 million to be exact, were okayed by the finance ministry on the recommendations of the Foreign Investment Promotion Board (FIPB) in its meeting held on 25 October, 2004.

    Hindustan Times case relates to Henderson Asia Pacific Equity Partners of the UK upping its stake in an HT joint venture company, HT Media Ltd, to 26 per cent from 19.23 per cent. Henderson is making the investments through its affiliate HPC (Mauritius) Ltd.

    This approval would bring into the joint venture company, set up to undertake a variety of activities, including those related to the Internet, radio and TV, an additional sum of Rs 940 million.

    At one time it was being speculated that it would be this joint venture company that would launch HT’s Mumbai edition.

    Meanwhile, the government okayed restructuring of Hutchison Telecommunications (India) Ltd, Mauritius and Hutchison Max Telecom Private Ltd.

    The proposal involves consolidation of equity by Hutchison Max Telecom Private Limited in its Indian telecom companies by way of acquisition of entire domestic and foreign shareholding and in lieu of issuing its shares.

    The proposed restructuring had been pending a government nod for quite some time now and would pave the way for an IPO of Hutch. This particular case was taken up by the FIPB on 27 October.

  • Hinduja TMT FY-01 net Rs 464 million

    Hinduja TMT FY-01 net Rs 464 million

    Hinduja TMT Ltd today announced a net profit of Rs 464.02 million for the year ended 31 March, 2002 as compared to Rs 420.66 million for the corresponding period last fiscal. Fourth quarter net profit stood at Rs 160.14 million as compared to Rs 39.99 million in the corresponding period last fiscal, an over four-fold jump. 

    The company posted total income of Rs 729.68 million for the year, up from Rs 617.25 million in FY-01. 

    Barring unforeseen circumstances, HTMT expects its IT revenues to increase 100-110% and the net profit therefrom to increase by about 70 per cent in FY 2002-03 on the basis of contracts on hand. The bulk of the contribution would come from the IT enabled business, a company release states.

    HTMT’s employees in its IT division was 953 as on 31st March 2002 as compared to 358 in the previous year due to the ramp up in the company’s IT enabled business. The total number of employees in HTMT’s IT enabled business increased from 111 as on 31 March 2001 to 773 as on 31 March, 2002 (Call center business – 472 and claims processing business was 301). HTMT’s workforce is likely to grow beyond 1500 at the end of the current fiscal, the release states. 

    According to HTMT vice-chairman Solomon Raj: “Going by the current trend and available opportunities, we are likely to emerge as a leading IT enabled services Company with a brand for quality and customer care. As the company implemented its call center business during the 3rd quarter of the last financial year, the real impact of ramp up in our IT-enabled orders would be reflected in the current year.” 

    Barring unforeseen circumstances, HTMT expects its IT revenues to increase 100 – 110 per cent and the net profit there from to increase by about 70 per cent in FY 2002-03 on the basis of contracts on hand. The bulk of the contribution would come from the IT-enabled business. 

    HTMT’s book value as on 31 March 2002 was Rs 110 per share and the basic and diluted earning per share stands at Rs 13.04. The company continues to remain debt free with cash on hand for the year ended 31 March 2002 amounting to Rs 417.5 million. 

    HTMT, besides positioning itself as an operating IT company, through its subsidiaries is expanding operations in the areas of cable television, broadband Internet, local television programming, movie channel and movie based programming. Fascel, HTMT’s joint venture with Hutchison Max, continues to be the largest single circle (excluding metros) cellular operator in the country, the release states. 

  • Hinduja TMT FY-01 net Rs 464 million

    Hinduja TMT FY-01 net Rs 464 million

    Hinduja TMT Ltd today announced a net profit of Rs 464.02 million for the year ended 31 March, 2002 as compared to Rs 420.66 million for the corresponding period last fiscal. Fourth quarter net profit stood at Rs 160.14 million as compared to Rs 39.99 million in the corresponding period last fiscal, an over four-fold jump.

     

     

    The company posted total income of Rs 729.68 million for the year, up from Rs 617.25 million in FY-01.

     

    Barring unforeseen circumstances, HTMT expects its IT revenues to increase 100-110% and the net profit therefrom to increase by about 70 per cent in FY 2002-03 on the basis of contracts on hand. The bulk of the contribution would come from the IT enabled business, a company release states.

    HTMT’s employees in its IT division was 953 as on 31st March 2002 as compared to 358 in the previous year due to the ramp up in the company’s IT enabled business. The total number of employees in HTMT’s IT enabled business increased from 111 as on 31 March 2001 to 773 as on 31 March, 2002 (Call center business – 472 and claims processing business was 301). HTMT’s workforce is likely to grow beyond 1500 at the end of the current fiscal, the release states.

    According to HTMT vice-chairman Solomon Raj: “Going by the current trend and available opportunities, we are likely to emerge as a leading IT enabled services Company with a brand for quality and customer care. As the company implemented its call center business during the 3rd quarter of the last financial year, the real impact of ramp up in our IT-enabled orders would be reflected in the current year.”

    Barring unforeseen circumstances, HTMT expects its IT revenues to increase 100 – 110 per cent and the net profit there from to increase by about 70 per cent in FY 2002-03 on the basis of contracts on hand. The bulk of the contribution would come from the IT-enabled business.

    HTMT’s book value as on 31 March 2002 was Rs 110 per share and the basic and diluted earning per share stands at Rs 13.04. The company continues to remain debt free with cash on hand for the year ended 31 March 2002 amounting to Rs 417.5 million.

    HTMT, besides positioning itself as an operating IT company, through its subsidiaries is expanding operations in the areas of cable television, broadband Internet, local television programming, movie channel and movie based programming. Fascel, HTMT’s joint venture with Hutchison Max, continues to be the largest single circle (excluding metros) cellular operator in the country, the release states.

  • BPL Mobile, MTV India forge Relationship

    BPL Mobile, MTV India forge Relationship

    The battle to gain control over the cellular service market is getting hot. To face competition from MTNL’s Dolphin and Hutchison Max, BPL Mobile has entered into a strategic alliance with MTV India, This fits like a glove as both companies try to understand and reflect the ideas, lifestyles and values of youngsters.

     

    MTV is trying to popularise BPL Mobile’s new service miDate. In MTV Loveline a contest is being run. During the course of the show the VJ Cyrus asks an unusual question and the person who gives the most innovative answer will get a date with a VJ.

     

    MTV VJs will also be promoting the relationship on the ground. Details for this will be finalised soon. The cellular company plans to launch lots of new products and customer services in the near future. It recently launched miDate for its subscribers in Mumbai.

     

    MiDate is based on the SMS platform which according to Vikram Raizada, director, marketing, MTV India, is the hot new language among the youth. According to him the aim of forming this kind of partnership with BPL Mobile is to connect with the youth. The youth of today are wired and hanging out is very important for them. Besides this they constantly want to keep in touch with each other. In the “tuning into the Indian youth part 3” survey which was conducted recently, small and latest mobile phones ranked high on the must have list.

     

    BPL Mobile has also tied up with Midday Multimedia Ltd to offer real time news content – miNews – to BPL’s cellular service subscribers. A print campaign has also been launched.

     

    Currently, Grey Worldwide and McCann Erickson handle their advertising. It is nor yet clear which ad agency will be finalised after merger.