Hinduja TMT on Thursday reported a 21 per cent increase in net profit to Rs 17.23 crore (Rs 172.3 million) for the quarter ended June 30, 2003 when compared with the corresponding period last fiscal.

In a statement, the Bangalore-based company said its revenues jumped by 42 per cent to Rs 34.94 crore (Rs 349.4 million).

It said the net profit from information technology activities, the company's core business, clocked a 37 per cent growth at Rs 15.97 crore (Rs 159.7 million), while the revenues surged 57 per cent to Rs 31.74 crore (Rs 317.4 million).

Sequentially, the company's total income increased by 9 per cent and the net profit by 11 per cent as compared to the fourth quarter of 2002-03, the release said.

Meanwhile, the company said it was planning to more than double the information technology enabled services capacity in Bangalore to 2,450 seats.

Apart from the existing 1,050 seat capacity at the 65,000 square feet offshore development centre, the company is in the process of acquiring additional premises of 84,000 square feet with 1,400 seat capacity.

"This will more than double the ITES capacity in Bangalore to 2,450 seats," the release said.