Hughes Soft doubles net, ups guidance

 After reporting a jump of over 100 per cent in its net profit for the quarter ending September 30, Hughes Software Systems today revised its net profit guidance for 2003-04 to 80 per cent year-on-year from the earlier 60-70 per cent, though it retained the earlier sales growth forecast of 55-60 per cent for the year.

 Aided by the pick-up in the global telecommunications market and the success of its diversification strategy, the company said its net profit had registered a 105 per cent increase from Rs 8.3 crore during the July-September quarter of 2002-03 to Rs 17 crore in the same quarter of 2003-04.

 This is the first financial result for the quarter from the country