Nxtdigital Ltd
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BSE Code:
500189
NSE Code:
NXTDIGITAL
Business Profile
Business Profile
Hinduja TMT (HINDTMT), a part of the Hinduja group companies, is an outsourcing company that can provide IT services and BPO/contact center services to customers. The company`s IT services provides application development and maintenance, legacy migration services, engineering design services and SAP implementation services. These services are complemented by HINDTMT`s BPO services in the area of back office claims processing, technical help desk support, contact center services, payroll processing, accounts receivables and accounts payable services.
It has got alliances and technology partnerships with global IT and technology players like IBM for technology on the websphere middleware platform, Compaq, Nortel for the support of switch technology for call centers, enhancement technology and 3I for training and recruitment for call centers, Oracle for Oracle database. It has subsidiaries in India, US, UK and France. The Indian subsidiaries in technology are SourceOne HTMT Inc., Customer Contact Centre Inc., and SourceOne Communications Asia Inc.; in media are Indusind Media Communications and InNetwork Entertainment; and in telecom are n2Cable and Indusind Telecom Network.
The acquisitions of Source One Communications Inc., USA and Customer Contact Center Inc., Manila added many high-profile clients to HINDTMT`s customer base in USA and expanded the company`s canvas of domain expertise from just telecom, insurance and discrete manufacturing to now include BFSI, pharmaceuticals, consumer electronics, household products, energy and utilities.
HINDTMT wants to strengthen its marketing services abroad. It wants to broadbase their business and increase their share of business from Europe. It wants to focus on the three areas of Internet, media and entertainment.
Financials
Hinduja TMT registered a steep drop of 93.29% in net profit of Rs 112.03 million for the quarter ended June 2007 from a profit of Rs 1,670.53 million for the quarter ended June 2006.
Net sales declined 79.78% to Rs 161.35 million for the quarter ended June 2007 from Rs 798.03 million for the quarter ended June 2006.
Total income dipped 94.33% to Rs 161.72 million from Rs 2,850.1 million for the quarter ended June 2006.
The earnings per share (EPS) of the company stood at Rs 5.45 for the quarter ended June 2007.
Recent Developments
26-SEP-07
Hinduja TMT will be known as ``Hinduja Ventures``. The company got approval for the name-change from its shareholders at its annual general meeting (AGM).
24-APR-07
The company has successfully demerged its ITES-BPO business into a separate company called HTMT Global Solutions.
12-APR-07
In terms of the High Court Order, regarding the demerger of HTMT Technologies, the face value of each equity share from Rs 10 was reduced to Rs 5 each and simultaneously consolidation of two such reduced equity shares of Rs 5 each was done into one equity share of face value Rs 10 each. The issued, subscribed and paid-up capital of the company accordingly stands reduced from Rs 410,760,060 consisting of 41,076,006 equity shares of Rs 10 each to Rs 205,380,030 consisting of 20,538,003 equity shares of Rs 10 each fully paid up.
04-APR-07
Hinduja TMT has announced that HTMT Global Solutions, the company into which the IT/ITeS undertaking of the company has been recently demerged, on April 4, 2007, inaugurated its Vashi Centre of Excellence. The new hub will be a 250-seater facility spread over 20,000 sq.ft. and will service multiple clients in the banking and financial services segment. The facilities at the HTMT Global Solutions Vashi Centre of Excellence will cater to both international and domestic markets.
06-MAR-07
The High Court of Judicature in Mumbai has sanctioned the scheme of amalgamation pursuant to which InNetwork Entertainment and In2Cable India, both wholly-owned subsidiaries of the company, have been merged into Indusind Media and Communications, a subsidiary company.