| Hinduja TMT Limited declares first quarter Unaudited Consolidated Results 2007 – 08. Total Income Rs. 60.69 crores. Net Income Rs. 15.84 crores.
Value Creation Continues –
Enhanced Activities In Real Estate,
Media Activities Spin Profits
Mumbai, July 30, 2007
Hinduja TMT Limited (‘HTMT’) at its Board Meeting held today approved Unaudited Consolidated Financial Results and Stand alone results subjected to limited review for the first quarter of 2007 – 08. HTMT which recently restructured its business by demerging its IT/ITES business into a separate entity, announced its first results without IT/ITES business.
Consolidated Total Income was Rs. 60.69 crores and Net Income was Rs. 15.84 crores. Previous Quarter results are not comparable with current quarter in view of demerger of IT/ITES business and a one time gain of Hutch stake sale included in last years results. The increase in income without IT/ITES accounted mainly from real estate and contribution from its subsidiary, IndusInd Media Communications Limited.
Media Business Outlook
Total Income (unaudited) of IMCL for the year was Rs. 44.52 crores against Rs. 37.94 crores for the same period last year. PAT was Rs. 4.51 crores for the first quarter of this year against a corresponding loss of Rs. 2.21 crores for the same period last year.
IndusInd Media and Communication Limited (IMCL) is the major subsidiary of HTMT and is also one of the largest multi system operators in the country. With approximately more than 6 million subscribers across 14 major cities, the Company offers 170 channels in the digital mode (it also offers about 90 channels in the analog mode, which are a part of the digital package). It has a backbone of over 6000 kms of fibre optic network through which it offers broad band services with national ISP license. Over and above Digital cable distribution, the company is also into content creation, acquisition & aggregation. IMCL has successfully implemented the first stage of CAS by installing more than 1 lac set top boxes in the CAS notified areas. The company is fully geared to meet the subsequent phases of the CAS roll out as per Govt regulations.
HTMT has entered into an agreement with ESPN Star Sports for the distribution of its new cricket channel Star Cricket in Mumbai, Thane & Navi Mumbai.
The company received an initial revenue of Rs. 500 lakhs on account of its real estate development business in Bangalore.
About Hinduja Group
Hinduja Group is an investment and banking group with a diversified global portfolio of holdings across the manufacturing, services and banking sectors. The Group, founded by Shri P.D.Hinduja in 1914 has activities across three core areas: Investment Banking, International Trading and Global Investments. It also supports charitable and philanthropic activities across the world through the Hinduja Foundation. As part of its Global investments, the Group owns businesses in Automotive, Information Technology, Media, Entertainment & Communications, Banking & Finance, Infrastructure Project Development, Chemicals & Agri business, Energy, Real Estate and Healthcare.
To know more about the Hinduja Group and our Group Companies, please visit us at www.hindujagroup.com.
For more information please contact:
Mr. Dilip Panjwani
Company Secretary & Manager
Hinduja TMT Ltd
Mr. Manoj Mayani
Clea Public Relations