HTMT scans BPO spectrum for acquisitions

NEW DELHI: HTMT is actively looking out for acquisition opportunities in BPO space & IT Services segment to increase its business, domain expertise, geographical presence and customer base. This information was given by the company to its shareholders at its annual general meeting (AGM).

As a step towards adopting a global delivery model, HTMT had recently acquired majority control in Customer Contact Center Inc (c3), a Philippines-Manila based call center company.

Commenting on HTMT's inorganic growth strategy, HTMT COO, K Thiagarajan said, "The key requirement of the global delivery model is to have multiple offshore delivery centers capable of providing geographical diversity to the clients.

With c3, HTMT has now three offshore delivery centers in two countries. We are now looking to consolidate our presence in onshore centers like New York, US".



The company's shareholders also approved appointment of Thiagarajan as the company's MD and CEO with effect from October 1, 2004.

HTMT had reported a total income of Rs 162 crore for FY2003-04 compared to Rs 114 crore for FY2002-03, an increase of 42 percent. The net profit grew by 22 percent from Rs 62 crore to Rs 76 crore.

The consolidated revenues had increased by 32 percent from Rs 217 crore to Rs 285 crore. The consolidated net profit for the year ended March 31, 2004 at Rs 84 crore represents an increase of 45 percent over the previous year's net profit of Rs 58 crore.

The shareholders also approved a final dividend of Rs 2.50 per share (25 percent) for FY 2003-04.