Don’t miss the latest developments in business and finance.

HGS Q3 net profit up 93.7% to Rs 71.1 cr on client wins, health care

The company saw its revenue from operations grow 5 per cent to Rs 1,335.7 crore in the quarter under review as against Rs 1,272.6 crore in the third quarter of 2018-19.

Growth
Representative Image
Press Trust of India New Delhi
2 min read Last Updated : Feb 08 2020 | 8:58 PM IST

Hinduja Global Solutions (HGS) has posted 93.7 per cent jump in consolidated net profit at Rs 71.1 crore for December quarter 2019.

HGS logged a profit of Rs 36.7 crore in October-December 2018, it said in a regulatory filing late Friday night.

The company saw its revenue from operations grow 5 per cent to Rs 1,335.7 crore in the quarter under review as against Rs 1,272.6 crore in the third quarter of 2018-19.

"HGS posted a strong revenue growth in Q3 FY2020...The growth was led by demand in both Healthcare and CES (Consumer Engagement Services) verticals across geographies," HGS CEO Partha DeSarkar said.

While CES got a boost from recent client wins and the festive season, the healthcare business saw strong growth driven by a strong Open Enrollment season across the US, Jamaica, the Philippines and India, he added.

In November 2019, HGS had announced its exit from the Indian Domestic CRM market by selling its business to Altruist.

Also Read

The transaction closed on January 31, 2020.

"This divestment is in line with our strategy to focus on driving profitable and high-value services-led growth. During the quarter, we continued to see traction in partnering with clients, both new and existing, especially for HGS Digital services," he said.

The HGS Digital brand is the culmination of the company's sharp focus on innovation, technology expertise and client centricity, and will be fundamental to growth in the years to come, he added.

The company's board has declared an interim dividend of Rs 15 per equity share for financial year 2019-20.

More From This Section

Topics :Hinduja Group

First Published: Feb 08 2020 | 4:08 PM IST

Next Story