Hinduja Global Solutions (HGS) has registered a 21.7% rise in consolidated net profit at Rs 49.2 crore for the quarter ended June 2020
The Hinduja Group firm had registered a net profit of Rs 40.4 crore in April-June 2019, HGS said in a filing on Saturday night.
HGS's revenue from operations grew 1.5% to Rs 1235.8 crore in the quarter under review as against Rs 1218 crore in the year-ago period.
The company's revenue growth in the June 2020 quarter was at 8.7% YoY on a like-to-like basis, excluding pass-through revenues and India Domestic CRM business revenues that were included in the first quarter of FY2020.
In November last year, HGS had announced the sale of its India Domestic Relationship Management (CRM) business to Altruist Technologies.
"Building on its momentum from last year, HGS has started FY2021 on a strong note. The performance in the first quarter was much better than expected, considering the current market conditions, "HGS Wholetime Executive Director and CEO Partha DeSarkar said.
He added that both Healthcare and CES (Consumer Engagement Services) verticals posted good traction, leading to robust growth in topline and profitability.
"Despite challenges posed by the pandemic, we continue to see strong demand for our services, and the advantage we have due to our current portfolio mix is helping us win new logos across verticles, both for short and long-term opportunities. We are making significant progress on our digital journey too," he said.
The pandemic has opened up a whole-new potential opportunity for HGS and the company is focused on offering new-age solutions that create real outcomes for the business, he added.
"Looking ahead, while we expect a robust open enrollment season in the healthcare verticle, given the COVID uncertainties, we are cautiously optimistic for the rest of the financial year," DeSarkar said.
At the end of June quarter, HGS had 227 core BPM clients and 691 HRO/Payroll processing clients, and its employee headcount was at 37,165.
The board declared an interim dividend of Rs 6 a share. It also approved the reappointment of Anil Harish as an independent director for a further period of five consecutive years with effect from September 29, 2020, subject to the approval of members at the ensuring 25th Annual General Meeting of the company.
It also gave nod to the appointment of Narendra Singh, presently Senior Vice President - Secretarial, as the company secretary and compliance officer at the closing of business on September 30, 2020. He succeeds in S Mahadevan, who is retiring from the company on September 30, 2020.
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