Business Standard

Hinduja Global Solutions Q4 profit jumps to Rs 5,686 cr on one-off gains

Hinduja Global Solutions said it consolidated profit after tax jumped multi-fold to Rs 5,686 crore for March, mainly on account of gains from divestment of its healthcare services business.

Hinduja Group

Logo of Hinduja Group. (Photo courtesy: Wikipedia)

Press Trust of India New Delhi
Business process management firm Hinduja Global Solutions said it consolidated profit after tax jumped multi-fold to Rs 5,686 crore for the quarter ended March, mainly on account of a one-time gain from divestment of its healthcare services business.
The company had registered a profit after tax (PAT) of Rs 130.32 crore in the same period a year ago.
"HGS had an eventful FY2022 -- from posting strong revenue growth in all four quarters in an uncertain socio-economic environment, registering our highest-ever quarterly PAT, to divesting the healthcare services business for an almost 3x valuation and enhancing shareholder value," HGS Executive Director and Group CEO Partha DeSarkar said in a statement.
The consolidated revenue from operations of Hinduja Global Solutions (HGS) grew 13.57 per cent to Rs 865.46 crore during the reported quarter, from Rs 762 crore in the year-ago period.
"In the fourth quarter, our continuing operations reported robust double-digit revenue growth, led by ramps and new logo wins in the UK and digital businesses. We expect the trend to continue in the coming quarters," DeSarkar said.
For the full year ended March 31, 2022, its consolidated profit jumped multifold to Rs 6,103.55 crore from Rs 336 crore in 2020-21.
Annual revenue from operations increased by 25.44 per cent to Rs 3,263.69 crore in 2021-22 from Rs 2,601.75 crore in FY21.
DeSarkar further said HGS completed the acquisition of Diversify Australia in February.
"Since the acquisition, the Diversify team has won 6 new clients while the sales pipeline for FY2023 is looking healthy. We expect good traction in this business.
"Looking ahead, we will continue to invest in building HGS 2.0 through proactive customer experience solutioning and acquiring digital capabilities across automation, analytics & AI and cloud even as we explore geographic expansion," he said.
The company announced a final dividend of Rs 25 per share post one bonus share against each share.
It will also roll out a share buyback worth Rs 975 crore for which the process will be announced later, the company said.
The company's employee base increased by 2,501 to 21,608 as of March 31, 2022.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: May 29 2022 | 10:45 PM IST

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