Goldstone to revamp operations
By siliconindia   |   Monday, 10 May 2004, 19:30 IST
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HYDERABAD: The Goldstone group is contemplating delinking its business process outsourcing (BPO) operations from the teleservices business division and merging it with its software business. The restructuring plan, which the company board is yet to take up for discussion, may be put into action this financial year. The Goldstone BPO is currently part of Goldstone Teleservices (GTL) and accounts for a major part of GTL’s revenues. The 220-member BPO operations handle technical support activity and inbound calls. The operations will be taking up power engineering services this year. For the year ended March 31, 2004, GTL posted a lower net profit of Rs 10 lakh on a turnover of Rs 12.33 crore compared to Rs 1.22 crore on a turnover of Rs 13.01 crore in the previous year. Of Rs 12.33 crore in revenues, the BPO operations accounted for Rs 7.18 crore, while the telecom division earned Rs 3.47 crore and insulators business earned Rs 1.68 crore. For the financial year 2004-05, GTL is targeting a turnover of Rs 36 crore, with the insulator business likely to grow manifold. Addressing a press conference on Saturday, GTL’s director M V S R Kamesam said the company was close to signing agreements with South African and Israeli firms for manufacturing prepaid digital energy meters in India. In addition, talks were also on with a Korean firm to manufacture surge arresters at GTL’s facility near Hyderabad. Kamesam said the company planned to invest Rs 55 crore over a period of two years to strengthen the manufacturing operations. The funding for the outlay was proposed through term loans, internal accruals and technology funding from the Department of Science and Industrial Research. GTL has an order book of Rs 6 crore to supply insulators to the Indian Railways, power utilities in AP and Maharashtra

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