NewsApp (Free)

Read news as it happens
Download NewsApp

Available on  

Rediff News  All News  » Business » MBT to raise staff strength by 1,500-2,000 this fiscal

MBT to raise staff strength by 1,500-2,000 this fiscal

June 12, 2003 12:05 IST

Mahindra British Telecom, a telecom-focussed software joint venture between Indian auto group Mahindra & Mahindra and British Telecom, plans to raise its staff strength by 50-65 per cent this year, a spokesman said.

"We are adding 1,500-2,000 people this year and 80 per cent of them will be in India," he said.

"This is based on our internal estimates of business, on what our customers are telling us and what our sales people are saying."

The company currently has about 3,000 employees.

MBT has announced that its net profit for the year to March 2003 rose 35.85 per cent to Rs 170 crore (Rs 1.7 billion) from Rs 126 crore (Rs 1.26 billion)

a year earlier.

Revenue rose 18.13 per cent to Rs 623 crore (Rs 6.23 billion) from Rs 527 crore (Rs 5.27 billion).

The firm, which currently earns about three-fourths of its revenue from British Telecom, has expanded its sales and marketing teams in the United States and Europe to tap other customers there.

John Helleur, MBT's chief executive, said in a statement he expected market conditions to remain tough with continued pressure on prices and margins, but saw the company expanding and deepening its customer base.
© Copyright 2018 Reuters Limited. All rights reserved. Republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.