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Spanco Telesystems demerger

September 17, 2007

Reports indicates that the new subsidiary will also act as a holding company for all its joint ventures in the BPO business, including railways project Bharat BPO Services, in which it holds a 50% stake. Spanco’s Middle East joint venture, in which it holds 51%, its call centre business in the UK and the international BPO business from Respondez will now come under Spanco BPO Ventures

Spanco’s net profit rose 106.7% to Rs 9.26 crore on 68.8% rise in sales to Rs 102.14 crore in Q1 June 2007 over Q1 June 2006. At the current price of Rs 230.95, the scrip trades at a PE multiple of 12.87, based on Q1 June 2007 annualised EPS of Rs 17.94.

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