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Tag: Solomon Raj

  • HTMT net up 22% to Rs 756 million

    HTMT net up 22% to Rs 756 million

    MUMBAI: Hinduja TMT today reported a total income of Rs 1624.8 million for the financial year ended 31 March 2004 compared to Rs 1144.7 million for the year ended 31 March 2003, an increase of 42 per cent. Net profit grew 22 per cent from Rs 620.3 million to Rs 756.2 million.

    The ratio of net profit to total income at 46% is in accordance with guidance given, a company release states.

    The earning per share increased 22 per cent to Rs 18.49 per share from Rs15.16 per share in the previous year.

    While the total income for the quarter ended March 04 rose by 27 per cent to Rs 407.9 million, net profit was at Rs 155.4 million, compared to Rs 155 million for the quarter ended March 03. The ramp up and training of staff and creation of additional infrastructure facilities during the quarter to meet the significant growth in business expected in 2004-05 led to increase in overall-cost which resulted in net profit not rising in tandem with total income.

    The execution of new orders for which pilots have been successfully completed and increase in business from existing clients will ensure growth in profits during 2004-05.

    HTMT’s robust business model focusing on ITES-BPO services backed by IT services has resulted in the company posting a three-year compounded average growth rate (CAGR) of 56.4 per cent for its IT income.

    The company continued to be debt free as on 31 March 2004 and has a book value of Rs 113/- per share.

    “Our results for 2003-04 represent continued progress across a number of key operational fronts and were driven by improved profits in the BPO segment of business,” said S. Solomon Raj, Vice Chairman, HTMT.

  • Hinduja TMT bags US BPO contract

    Hinduja TMT bags US BPO contract

    MUMBAI: Hinduja TMT (HTMT) has picked up a business process outsourcing (BPO) contract from a US health insurance company.

     
    The contract will initially run for a period of three years and will involve both transactions processing as well as client contact center work in the area of health care.
    Speaking to indiantelevision.com, HTMT senior VP Arun Kumar said that while “the training and pilot project started on 12 January, the commercial processing would take off within a month.” This is the second health insurance BPO contract that HTMT has bagged from the US. “Both clients are Fortune 200 companies,” Kumar added.

    HTMT has employed 80 people as transaction processors for 3 modules of the training and pilot project. The company is expecting to further add 600 transaction processors to the work force based on its experience with the existing healthcare insurance BPO client.

    HTMT vice chairman Solomon Raj was quoted in a company statement saying, “Our existing domain expertise coupled with realization of high quality performance metrics in the health insurance sector was a major factor that made HTMT the preferred vendor of choice.”

    The company is in the process of setting up a high-end call center employing medical doctors, states the release. HTMT has taken on lease premises admeasuring 80,000 sq. ft. for building 1400 seat capacity at Bangalore to meet the expanding requirements of its customers including those of the new client. This is in addition to the existing capacity of 1050 seat 52,000 square feet offshore development centre ‘HTMT House’ at Bangalore, which is now fully occupied.

    HTMT has won a number of accolades in the recent past. It was recently voted as the second best employee friendly company in the Dataquest-IDC BPO Employee Satisfaction Survey. The first position had gone to the first name of India off-shoring, GE Capital. It was also rated the second largest in the insurance claim processing business by the Business World magazine in terms of number of processors. Deloitte Touche Tohmatsu Asia Pacific Technology Fast 500 Program 2003 has recognized HTMT as one of Asia Pacific’s leading technology companies in the year 2003.

  • 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.