Processing .....please wait.. 
The article has been forwarded.... 
News >> Technology >>
Hughes posts Rs 170 M Q2 profit
By siliconindia
|
Wednesday, 08 October 2003, 19:30 IST
NEW DELHI: India's Hughes Software Systems Ltd raised its profit guidance for fiscal 2003-04 on Wednesday on the back of a strong orderbook and reported its second quarter profit had more than doubled over the previous year.
Hughes, 55.44 per cent owned by US-based Hughes Network Systems, designs software for global firms such as Lucent Technologies Inc and handset giant Nokia.
The mid-sized New Delhi-based communication software developer said net profit for the year ending March 2004 was expected to rise about 80 per cent from 60 to 70 per cent projected earlier.
Profit after tax for the current quarter could rise 60 to 65 per cent while sales could grow 55 to 60 per cent.
Earlier, it reported a profit of Rs 170 million ($3.75 million) in the fiscal second quarter ended September 30 compared with a profit after tax of Rs 83 million in the year-ago quarter and Rs 152 million in the first quarter.