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Allsec net doubles

Our Bureau

Chennai , Oct. 20

ALLSEC Technologies Ltd has reported a net profit of Rs 5.82 crore on revenue of Rs 24.05 crore for the second quarter ended September 30, 2005, compared with a net profit of Rs 2.99 crore on revenue of Rs 15.06 crore for corresponding quarter last year.

Staff cost was Rs 9.67 crore (Rs 5.23 crore) and connectivity cost, Rs 3.44 crore (Rs 2.82 crore).

The Chennai-based company provides contact centre and third party voice-based business process outsourcing services.

During the quarter, Allsec acquired one of the top Australian telecommunication companies as its client, and has started doing a pilot project, according to its founder and President, Mr Adi Saravanan.

It added 150 employees during the quarter to take the total employee strength to 1,887. It hopes to have around 3,000 employees by March 2006, said the company's Director and Chief Executive Officer, Mr Jagadish Ramamoorthi.

Mr T. Ananthanarayanan, former Executive Director, Ashok Leyland, and Mr A. Sankarakrishnan, Managing Director, Kone Elevators, were inducted on the board of directors.

Mr Tom Williams has been appointed Vice-President, Collection. As part of collection vertical, Allsec helps clients follow up and collect consumer debt.

Looking at buys

Allsec is looking to acquire a company that has good infrastructure, people and domain expertise.

"We are actively looking at companies to acquire, and want to grow in other cities," said Mr Saravanan. The company's share price closed at Rs 225.10 on the Bombay Stock Exchange.

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