Hinduja Group firm reports 6 per cent increase in profit in Q3

THE BPO arm of Hinduja Group, Hinduja Global Solutions(HGS) has reported a 5.6 per cent increase in consolidated net profit at Rs 75.1 crore ( £7.45million) in the third quarter of 2020-21 financial year.

The company reported a net profit of Rs 71.1 crore(£7m) in the same period a year ago, the company said in a statement.

The operating revenue of HGS increased 15.2 per cent to Rs 1,456.8 crore(£144.5m) in the third quarter from Rs 1,264.8 crore(£125.5m) in the same period last year.

Company whole time executive director and CEO Partha DeSarkar has said that most of the business segments, including Healthcare, UK and HGS Digital did well in the third quarter.

"Growth has been driven by the healthcare business as well as our UK business. I am very happy with how we have quickly realigned our operating model to the new normal. These results demonstrate Team HGS' resilience and agility," he said.

"Healthcare growth was led by the open enrolment season. A key driver of growth has been the number of new logo signings this year and the strong pipeline conversion. We expect sustained demand for our services in coming quarters too. Looking ahead, we are optimistic to close FY2021 on a strong note."

The revenue growth was 11.3 per cent in nine months of FY2021, the company said.

The company has also declared an interim dividend of Rs 6 per share.

In November 2019, HGS had announced sale of its India Domestic Customer Relationship Management (CRM) business to Altruist Technologies. The deal was closed in January 2020.

The HGS is a global leader in business process management (BPM) and operates a global network of customer experience centres across the US, Canada, UK, India, Jamaica, UAE, and the Philippines.