Hinduja Q1 net up 1490 pc at Rs 167 cr

New Delhi, July 31: Hinduja TMT Ltd today said it has posted a profit of Rs 167 crore for the quarter ended June 30, 2006, up 1490 per cent from Rs 10.5 crore reported in the corresponding quarter last year.

Total Income of the company stood at Rs 285 crore for Q1, as against Rs 41.1 crore in the last Q1, a company statement said.

The Q1 figures are not comparable to the corresponding previous quarter, since the Manila Branch commenced operations from October 1, 2005.

Earlier this month, Hinduja TMT Ltd had sold its entire holding of 5.11 per cent stake in Hutchison Essar Ltd, to a unit of Hong Kong-based Hutchison group for 450 million dollars in a cash deal.

UNI