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This is an archive article published on January 20, 2005

Hughes net soars 15 pc

Coasting a swell in offshore contracts, software and services firm Hughes Software Systems HSS reported a 15.48 per cent rise in third qua...

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Coasting a swell in offshore contracts, software and services firm Hughes Software Systems HSS reported a 15.48 per cent rise in third quarter net profits compared to the same period last year.

This is the third quarter of growth from HSS, after contract manufacturer Flextronics bought parent Hughes Network8217;s 55 per cent stake in it last June. HSS total income was up 25 per cent to Rs 123.5 crore in Oct.-Dec. 2004 and revenues rose 5 per cent, backed by billing rates that went up 3 to 5 per cent, for some of the 9 contracts added.

 

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