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Hinduja TMT FY-01 net Rs 464 million
Hinduja TMT Ltd today announced a net profit of Rs 464.02 million for the year ended 31 March, 2002 as compared to Rs 420.66 million for the corresponding period last fiscal. Fourth quarter net profit stood at Rs 160.14 million as compared to Rs 39.99 million in the corresponding period last fiscal, an over four-fold jump.
The company posted total income of Rs 729.68 million for the year, up from Rs 617.25 million in FY-01.
Barring unforeseen circumstances, HTMT expects its IT revenues to increase 100-110% and the net profit therefrom to increase by about 70 per cent in FY 2002-03 on the basis of contracts on hand. The bulk of the contribution would come from the IT enabled business, a company release states.
HTMT’s employees in its IT division was 953 as on 31st March 2002 as compared to 358 in the previous year due to the ramp up in the company’s IT enabled business. The total number of employees in HTMT’s IT enabled business increased from 111 as on 31 March 2001 to 773 as on 31 March, 2002 (Call center business – 472 and claims processing business was 301). HTMT’s workforce is likely to grow beyond 1500 at the end of the current fiscal, the release states.
According to HTMT vice-chairman Solomon Raj: “Going by the current trend and available opportunities, we are likely to emerge as a leading IT enabled services Company with a brand for quality and customer care. As the company implemented its call center business during the 3rd quarter of the last financial year, the real impact of ramp up in our IT-enabled orders would be reflected in the current year.”
Barring unforeseen circumstances, HTMT expects its IT revenues to increase 100 – 110 per cent and the net profit there from to increase by about 70 per cent in FY 2002-03 on the basis of contracts on hand. The bulk of the contribution would come from the IT-enabled business.
HTMT’s book value as on 31 March 2002 was Rs 110 per share and the basic and diluted earning per share stands at Rs 13.04. The company continues to remain debt free with cash on hand for the year ended 31 March 2002 amounting to Rs 417.5 million.
HTMT, besides positioning itself as an operating IT company, through its subsidiaries is expanding operations in the areas of cable television, broadband Internet, local television programming, movie channel and movie based programming. Fascel, HTMT’s joint venture with Hutchison Max, continues to be the largest single circle (excluding metros) cellular operator in the country, the release states.
News Broadcasting
Induction cooktop demand spikes 30× amid LPG supply concerns
Supply worries linked to West Asia tensions push households and restaurants to turn to electric cooking alternatives
MUMBAI: As geopolitical tensions in West Asia ripple through global energy supply chains, the familiar blue flame in Indian kitchens is facing an unexpected challenger: electricity.
What began as concerns over the availability of liquefied petroleum gas (LPG) has quickly evolved into a technology-driven shift in cooking habits. Households across India are increasingly turning to induction cooktops and other electric appliances, initially as a backup but now, for many, a necessity.
A sudden surge in demand
Recent data from quick-commerce and grocery platform BigBasket highlights the scale of the shift. According to Seshu Kumar Tirumala, the company’s chief buying and merchandising officer, demand for induction cooktops has risen dramatically.
“Induction cooktops have seen a significant surge in demand, recording a fivefold jump on 10 March and a thirtyfold spike on 11 March,” Tirumala said.
The increase stands out sharply when compared with broader kitchen appliance trends. Most appliance categories are growing within 10 per cent of their typical demand levels, while induction cooktops have witnessed explosive growth as households rush to secure an alternative cooking option.
Major e-commerce platforms including Amazon and Flipkart have reported rising searches and orders for induction stoves. Quick-commerce apps such as Blinkit and Zepto have also witnessed stock shortages in major metropolitan areas including Delhi, Mumbai and Bengaluru.
What was once considered a convenient appliance for hostels, small kitchens or occasional use has suddenly become an essential addition in many homes.
A crisis thousands of miles away
The trigger for this shift lies far beyond India’s kitchens.
Escalating conflict in the Middle East has disrupted shipping routes through the Strait of Hormuz, one of the world’s most critical energy corridors. Nearly 85 to 90 per cent of India’s LPG imports pass through this narrow waterway, making the country particularly vulnerable to supply disruptions.
The ripple effects have been swift.
India currently meets roughly 60 per cent of its LPG demand through imports, and tightening global supply has already begun to affect domestic availability and prices.
Earlier this month, the price of domestic LPG cylinders increased by Rs 60, while commercial cylinders rose by more than Rs 114.
To discourage panic buying and hoarding, the government has also extended the mandatory waiting period between domestic refill bookings from 21 days to 25 days.
Restaurants feel the pressure
The strain is not limited to households. Restaurants, hotels and roadside eateries are also grappling with supply constraints as commercial LPG availability tightens under restrictions imposed through the Essential Commodities Act.
In cities such as Bengaluru and Chennai, restaurant associations report that commercial LPG availability has dropped by as much as 75 per cent, forcing many establishments to rethink their kitchen operations.
Some restaurants have reduced menu offerings, while others are rapidly installing high-efficiency induction systems, creating hybrid kitchens where electricity now shares the workload with gas.
For smaller eateries and roadside dhabas, the shift is less about sustainability and more about survival.
A potential structural shift
The government has maintained that there is no nationwide LPG crisis and has directed refineries to increase production to stabilise supply.
Nevertheless, the developments of March 2026 may already be triggering a longer-term behavioural shift.
For decades, LPG has been the backbone of cooking in Indian households. However, recent disruptions have highlighted the risks of relying on a single fuel source.
Increasingly, households appear to be hedging against uncertainty by adopting electric cooking options to guard against price volatility and delivery delays.
If the current trend continues, the induction cooktop, once viewed as a niche appliance, could emerge as a quiet symbol of India’s evolving kitchen economy.
