Hinduja Global Solutions Q1 Profit Soars to Rs 161.5 cr
Aug 14, 2024 21:29
Hinduja Global Solutions (HGS) reported a multifold jump in its Q1 net profit to Rs 161.5 crore, driven by the sale of its healthcare business. Revenue declined by 3.6% to Rs 1,091.92 crore.
New Delhi, Aug 14 (PTI) Business process management firm Hinduja Global Solutions has posted a multifold jump in its consolidated profit to Rs 161.5 crore in the first quarter ended June 30, mainly due to sale proceeds of healthcare business received during the period.
The company reported a profit of Rs 16.64 crore a year ago.
Without the one-time gain from the sale of the healthcare business, HGS recorded a loss of Rs 57 crore during the reported quarter from continuing operations.
The revenue from operations of Hinduja Global Solutions (HGS) declined by 3.6 per cent to Rs 1,091.92 crore in the June 2024 quarter from Rs 1,133.49 crore in the year-ago period.
"Profitability in the quarter was adversely impacted due to some one-time costs, and we expect our profitability to improve from Q2 FY2025 onwards.
"During the quarter ended June 2025, we received additional payment towards the sale of the healthcare business resulting in net profit of Rs 218.5 crore shown under Profits from Discontinued Operations," HGS Whole-time Director and Group CEO Partha DeSarkar said in a statement.
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