Hinduja Global Solutions (HGS), a Business Process Management (BPM) player, recorded a 35 per cent sequential profit decline to ₹16.6 crore. On a y-o-y basis, profits were down 52 per cent.
Revenue from operations stood at ₹1,133.4 crore, a sequential increase of 5.9 per cent and a decline of 1.3 per cent y-o-y. EBITDA, including other income, was ₹191.0 crore, EBITDA margins for the quarter was 15.3 per cent.
Partha DeSarkar, Executive Director and Group CEO of HGS, said: “The results for the first quarter of the fiscal have been solid and reflect our transformative ability to adapt in a fast-changing macro business environment. The BPM business achieved operating revenue growth of 7.0 per cent over Q4 FY2023, along with significant improvement in margins. Our Canadian and UK businesses have performed well in Q1 FY2024 and we are seeing strong demand, especially in Canada and offshore/ nearshore business.”
Also read: HGS opens customer experience hub in Colombia, to hire 150 employees
The company added eight new logos for digital-enabled CX solutions, including Teklink, and 10 for HRO/ Payroll Processing. It said it signed 24 opportunities with new and existing clients for HGS’ core CX and digital solutions (RPA, digital engagement, analytics, cloud and social care, etc.)
Employee headcount stood at 19,947 as of June 30, 2023. HGS had 35 global delivery centers across nine countries. The company said that its Digital Media business covers 4,655 pin codes covered in India.