MUMBAI: Media conglomerate Hinduja TMT Ltd (HTMT) reported a 37 per cent increase in net profit for the quarter ended 31 December, 2003.

The company posted a net profit of Rs 225.46 million for the quarter ended 31 December, 2003 as compared to Rs 165.11 million for the quarter ended 31 December, 2002.

 
Total income increased 54 per cent from Rs 296.09 million in the Q3-2002 to Rs 456.87 million in the quarter ended 31 December, 2003.

Commenting on the results, vice chairman S Solomon Raj was quoted in a company release as saying, "Our disciplined processes and very good routines of information flow have been well appreciated by our clients. The realisation of constant improvement in performance metrics and co-creation of value in partnership with them have enabled us to deliver both short-term results and long term growth."

The company's shares opened today at Rs 337.35 on the BSE and closed at Rs 317.10 thus reporting a loss of six per cent. Shares touched a high of Rs 349.30 and dipped as low as Rs 317.10 in the day's trade. A total of 2,17,647 HTMT shares were traded on D Street today.