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HTMT declares 50% interim dividend

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CIOL Bureau
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MUMBAI: The board of directors of Hinduja TMT has considered and declared an interim dividend of Rs 5 per share (50% on the par value of Rs 10 per share) for the year ended March 31, 2003 amounting to Rs 20.45 crore. The consolidated audited financial results of the company and its subsidiaries will be published on or before June 30, 2003, when the final dividend will be announced.






The total employee strength in its IT division, which is HTMT`s core activity, grew by 55 per cent from 953 at the beginning of the year to 1,472 by March 2003 owing to expansion in its BPO/call centre business. The company is in the process of recruiting 200 additional CSRs/processors during the current quarter to take care of the increase in business from its existing clients and orders from new customers that are getting nearing completion.


HTMT is also engaged in strengthening of IT infrastructure of its flagship subsidiary IndusInd Media & Communications Ltd), which has recently entered into an agreement with Kudelski SA Switzerland and its subsidiary Nagra Vision for equity investment and CAS implementation.





InCableNet will issue up to three per cent of its equity to Kudelski SA, at a company valuation of approximately Rs 2,300 crore. HTMT currently has an effective stake of 62.07 per cent in InCableNet.





Denies interest in 3G



Hinduja TMT said it was not interested in buying the ailing German company- Mobilcom's 3G assets, denying earlier statements by sources close to the supervisory board. Hinduja TMT vice-chairman Solomon Raj told agencies that they company had been approached by Mobilcom , but it was not interested in buying the assets. "We got a message today asking if we would be interested in the 3G operations and we replied saying we have no interest," Raj said.



With inputs from Reuters

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