Friday, January 10, 2003
New Delhi: Hughes Software Services (HSS) has recorded revenue
sales of Rs 57.1 crore for the third quarter ended December
2002, showing a 4.67 per cent decline over the corresponding
quarter in 2001 (Rs 59.9 crore). The bottom line sagged 21.4
per cent to Rs 11.41 crore from Rs 14.5 crore.
However, compared to the previous sequential quarter, the
company registered a revenue growth of 10 per cent with the
net profit up 38 per cent.
In the coming quarters, the company intends to build its
business process outsourcing (BPO) division and is planning
to invest upto $10 million by 2006. We have a trend of 10
per cent quarter-on-quarter growth through which we have established
a great deal of predictability in our results. However, compared
to last year, the results of this quarter are not so impressive,
HSS president and managing director Arun Kumar told newspersons
here in New Delhi.
There is still pricing pressure and business environment
is still challenged specially in the telecom sector. Telcecom
will remain challenged for at least four quarters. In order
to reduce the impact on our company, we are much on internal
processes and are closely working with our
customers, Mr Kumar said. The company is also looking at confining
its hiring activities to its
BPO division, which presently has over 75 people serving one
client (HNS) with a capacity of 450 seats.
We are looking at hiring more people in the BPO division
and intend to stick to a flat hiring activity for the rest
of HSS, he said.
The company in its Q2 results had announced its plans to
enter into the banks, financial services and insurance (BFSI)
sector but has so far not established itself. We are still
working at the inorganic element for our entry into BFSI,
he said.According to the company, its earnings per share
(EPS) of Rs 3.39 has registered a 38 per cent quarter-on-quarter
growth.
Last updated : February 2, 2004
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