The Hindu : Hughes Software Q2 net up

Online edition of India's National Newspaper
Thursday, Oct 09, 2003

Business

Business

Hughes Software Q2 net up

NEW DELHI OCT. 8. Riding on the success of its strategy for diversification and market expansion, Hughes Software Systems today registered a sharp rise in its net profit for the quarter ended September 2003 at Rs. 17 crores. The company has also revised its net profit guidance for the year 2003-04 to about 80 per cent on a year-on-year basis from the earlier 60-70 per cent, but retained the earlier sales growth forecast of 55-60 per cent during the year.

For the third quarter, it has projected a net profit guidance of 60-65 per cent over the corresponding quarter last year and 55-60 per cent growth in sales. During the half year ended on September 30, the net profit stood at Rs. 32.3 crores, registering a growth of 154 per cent over the same period a year ago and sales increased by 62 per cent to Rs. 161.5 crores on a year-on-year basis. Total income for the first half stood at Rs. 165 crores.

The company added 14 new customers during Q2, Arun Kumar, President and MD, Hughes Software, said.

PTI

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