A global advisor to identify a strategic partner had already been appointed, she told reporters here.

The government decided to disinvest 50 per cent of its stake last year, but recently it had decided to increase it to 74 per cent, she said adding steps for disinvestment had already been initiated.

A clear picture of the future of the company was likely to emerge next year, she said.

She said HTL had doubled its profit this year. Profit after tax, which stood at Rs 6.83 crore in 1998-99, had gone up to Rs 12.45 crore this year, she said.

The turnover of the company had also increased from Rs 359 crore in 1998-99 to Rs 451 crore this year, she said.

The growth in the turnover was mainly due to sizable increase in the production of of switching equipment to 1.36 million lines from 0.83 million lines, she said.