Business EconomyPosted at: Aug 14 2024 6:46PM


Hinduja Global Solutions net up to Rs 161.5 cr in Q1

New Delhi, Aug 14 (UNI) Hinduja Global Solutions, part of the multi-billion-dollar conglomerate Hinduja Group, on Wednesday announced whopping jump in net profit at Rs 161.5 crore in April-June quarter of current fiscal compared to Rs 16.64 crore in the quarter of last fiscal, mainly on account of payment received towards sale of healthcare business.
During the quarter ended June 2024, the company received additional payment towards the sale of the healthcare business resulting in net profit of Rs 218.5 crore shown under Profits from Discontinued Operations.
Total income of the company however dipped marginally by 2.3 percent to Rs 1,218.6 crore in the Q1 and revenue from operations also decreased 3.7 percent to Rs 1,091.9 crore.
Speaking on the results, Partha DeSarkar, Whole-time Director and Group CEO of HGS said “HGS’ revenues in the first quarter of FY2025 were in line with our expectations, considering the environment of continued macro-economic volatility and delayed decision-making by some key clients. Profitability in the quarter was adversely impacted due to some one-time costs and we expect our profitability to improve from Q2 FY2025 onwards.”
Our pipeline remains healthy, and we are enthused by the increasing demand for our technology-enabled CX services by both new and existing clients as evidenced by the number of new client engagements signed during FY2025, including larger cross-sell deals, across verticals such as telecom and public sector, he said.
HGS is investing in developing tech offerings to support fast growing sectors like BFSI, retail & consumer, and hi-tech. Our aim is to help clients future-proof their businesses through digital transformation as AI becomes more mainstream, DeSarkar added.
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