Latest News | Hinduja Global Solutions Q2 Net Profit Up 66 Pc to Rs 81.3 Cr

New Delhi, Nov 9 (PTI) Hinduja Global Solutions (HGS), the BPO arm of the diversified Hinduja Group, on Monday reported a 65.6 per cent rise in consolidated net profit at Rs 81.3 crore in September 2020 quarter.

The company had posted a net profit of Rs 49.1 crore in July-September 2019 quarter, HGS said in a statement.

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Its revenue increased 9.4 per cent to Rs 1,332.5 crore during the quarter under review from Rs 1,217.9 crore in July-September quarter a year ago.

"Led by robust healthcare volumes and strong performance in other verticals, HGS reported excellent results in Q2 FY2021. Overall revenues for Q2 stood at Rs 13,326 million, an increase of 11.9 per cent year-on-year on a like-to-like basis," HGS Wholetime Executive Director and CEO Partha DeSarkar said.

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He added that PAT (profit after tax) rose 65.5 per cent year-on-year to Rs 813.2 million for the quarter, the highest-ever reported by the company.

Profit was boosted by a one-time tax reversal charge, he said.

"Despite the current market environment, we continue to see big demand from clients...We won new business or expanded contracts across verticals in Q2, including signing of one of HGS' largest engagements in the UK public sector to be delivered in a Work@Home model," he said.

DeSarkar added that the company's sales pipeline for the second half of the fiscal year looks strong, and with open enrollment and the holiday season coming up, it is confident of good FY2021 performance.

The company declared its second interim dividend of Rs 6 per share.

As of September 30, 2020, HGS had 235 core BPM clients and 699 HRO/payroll processing clients. Its headcount was at 39,578 at the end of the said quarter.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)