Hinduja Global Solutions (HGS), a Business Process Management (BPM) player, has recorded a 14.1 per cent Year-on-Year (YoY) revenue growth to ₹912 crore for the quarter ended June 2022.
The consolidated net profit from continuing operations stood at ₹73.26 crore for the quarter ended on June 30, 2022, a nine times growth YoY according to the company statement. Earnings before interest, tax, depreciation, and amortization (EBITDA) stood at ₹38.45 crore.
Partha DeSarkar, Executive Director and Group CEO said, “In a challenging economic environment, we are witnessing strong demand for our customer experience (CX) business across all our geographies. Our offshore delivery in Philippines and India is ramping up significantly; we also launched a new delivery center in Mysore in July to cater to the growing demand.”
HGS divested its Healthcare Services vertical in January 2022. Hence HGS’ retained business now comprises its digital-enabled customer experience (CX) solutions and HRO/ payroll businesses.
“Looking ahead, we are focusing on strong revenue growth and improvement in margins. We plan to strengthen our capabilities, set up new centers and hire significantly to support new client wins as we take forward the HGS 2.0 journey.” DeSarkar said.
He added that the proposed buyback of around ₹975 crore, based on the audited results for FY22, will be announced at a later date upon completion of requisite approvals and in compliance of relevant provisions of the Companies Act, SEBI Listing Regulations and SEBI Buy-back Regulations.