An increase in interest costs and fluctuation in foreign currency rates have resulted in a 12.2 per cent decrease in Hinduja Global Solutions' (HGS) net profit to Rs 20.29 crore for the first quarter this fiscal.
The company's consolidated operating revenue, however, grew 22.8 per cent to Rs. 278.4 crore during the same period.
The company has announced a dividend of Rs 9.86 a share (not annualised).
“In addition to the seasonality of our client business, this quarter reflects the effect of wage increases, weakening of the dollar and ramp up costs of new centres in the Philippines and India,” Mr Partha De Sarkar, CEO, said in a press statement.
The company added five new clients during the quarter and has a total workforce of 19,435.
During the quarter, HGS opened a delivery centre in Delhi primarily for the BFS sector, and will set up another in Philippines.