(31 July 2007 8:25 pm)

MUMBAI: Hinduja TMT Ltd has posted a consolidated net income of Rs 158.4 million on a revenue of Rs 606.96 million for the first quarter of 2007-08.

"Previous quarter results are not comparable with the current quarter in view of demerger of IT/ITES business and a one time gain of Hutch stake sale included in last year's results. The increase in income without IT/ITES accounted mainly from real estate and contribution from its subsidiary, IndusInd Media & Communications Limited," the company said in a release.

HTMT's media business under IMCL saw a net profit of Rs 45.1 million as against a corresponding loss of Rs 22.1 million for the first quarter of the previous year.

Revenue was at Rs 445.2 million, driven largely by carriage fees.

IMCL has implemented the first stage of conditional access system (Cas) by installing over 1,00,000 set-top boxes, the release said.