Hinduja Global Solutions (HGS) today announced a more than three-fold rise in net profit for the quarter ended June 2016 at Rs 51.7 crore, driven by robust domestic performance and increased offshoring.
Its net profit stood at Rs 16.43 crore in the corresponding period of the previous fiscal.
Margins stood at 5.7 per cent, while income from operations rose to Rs 909.49 crore compared to Rs 738.82 crore in the first quarter of 2015-16, the company said in a BSE filing.
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"These strong numbers were driven by multiple factors such as increased offshoring, recovery of Canadian operation, strong performance of domestic business and turnaround of Colibrium business," HGS CEO Partha DeSarkar said.
"Organic growth stood at 14 per cent, while inorganic growth was 6 per cent for the quarter," he added.
He said the company will continue to remain focused on improving profitability and cash flow generation.
"Our investment in technology-powered innovation to provide a differentiating customer experience is supporting our growth trajectory in coming quarters," he said.
The company hired over 1,000 professionals in the quarter and expects to ramp up this number to 2,500 by the next quarter, he said. It currently has about 40,000 employees.
He said UK accounts for only for 10-11 per cent of its business, and hence the impact of currency devaluation post Brexit is not a key concern for the company.
HGS also opened three new centres -- Kingston in Jamaica, and Chennai and Bengaluru in India.
Currently, HGS has 69 global delivery centres across 11 countries.
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