HGS Q3 results: Net profit tanks 84% to Rs 8.2 crore, revenue up 8% | Company Results – Business Standard

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Hinduja Global Solutions (HGS) on Wednesday reported a 84 per cent decline in consolidated net profit to Rs 8.2 crore for the December quarter.


The company’s net profit stood at Rs 51.6 crore in the year-ago period.


Its revenue from operations, however, grew 7.55 per cent to Rs 1,203.6 crore in the third quarter of the ongoing fiscal from Rs 1,119.1 crore a year ago.


The revenues were led by the company’s BPM (Business Process Management) services, which raked-in a revenue of Rs 925.55 crore, according to the company.


“Despite a challenging global macro-environment, HGS posted a resilient performance in the third quarter, continuing to build on our efforts to improve our topline and margins,” Partha DeSarkar, Group CEO of HGS, said.

DeSarkar added, “We saw a strong total revenue increase of 11.2 per cent year on year, led by growth in Canada, TekLink, and offshore businesses. Operating EBITDA (excluding other income) grew significantly by 39.9 per cent year-on-year and 18.1 per cent on a sequential basis.”

Head of digital media business Vynsley Fernandes said the media division saw “robust broadband and digital television growth continuing in the December quarter — which ended with a customer base of 5.75 million connected homes across India”.


As of December 31, 2023, HGS had 316 active customer experience/BPM clients and 789 HRO/payroll processing clients. Digital media business has a customer base of more than 5 million, as per the company.


Hinduja Global Solutions (HGS) has 32 global delivery centres across nine countries.

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First Published: Feb 14 2024 | 11:58 PM IST