Hinduja Ventures Q3FY08 Results

Hinduja Ventures Ltd has announced the following Unaudited Results for the quarter ended December 31, 2007:

The Company has posted a net profit from Ordinary Activities after tax of Rs 121.957 million for the quarter ended December 31, 2007 where as the same was at Rs 185.631 million for the quarter ended December 31, 2006. Total Income is Rs 186.805 million for the quarter ended December 31, 2007 where as the same was at Rs 852.386 million for the quarter ended December 31, 2006.

The Consolidated results are as follows :

The Group has posted a profit for the year after Minority Interest of Rs 158.439 million for the quarter ended December 31, 2007. Total Income is Rs 665.064 million for the quarter ended December 31, 2007.

The above results of the quarter and nine months ended December 31, 2007 are not comparable with those of the corresponding previous period in view of the Demerger of IT / ITES undertaking of the Company w.e.f. October 01, 2006 (appointed date) pursuant to the Scheme of Arrangement and Reconstruction which was sanctioned by Honourable High Court of Judicature at Bombay and made effective on March 07, 2007. Hence, total Income of Rs 749.815 Million, total expenditure of Rs 648.797 Million, Profit before tax of Rs 101.018 million pertaining to IT / ITES business, for the period October 01, 2006 to December 31, 2006, is included in the results for the quarter and nine months ended December 31, 2006.