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HGS Q4 net up 13 pc to Rs 48 cr

twitter-logo PTI        Last Updated: May 31, 2018  | 11:12 IST

New Delhi, May 31 (PTI) Hinduja Global Solutions (HGS) today said its net profit has increased by 13.1 per cent to Rs 48.2 crore for the quarter ended March 31, 2018.

This is after the impact of an exceptional item of Rs 12 crore on account of the companys UK business.

The company had registered a net profit of Rs 42.7 crore in the January-March 2017 quarter.

HGS saw its revenue from operations growing 6.8 per cent to Rs 1,003.8 crore as against Rs 940 crore in the January-March 2017 quarter.

For the full FY18 fiscal, net profit grew 7.2 per cent to Rs 192 crore, while revenue from operations was up 3.7 per cent to Rs 3,849.3 crore.

"Although there has been softening of EBITDA margins in FY2018 due to performance of the UK and India Domestic business, PAT for FY2018 grew by 7.2 per cent due to lower depreciation, interest and tax costs," HGS CEO Partha DeSarkar said.

He added that the company had some large wins from new logos especially in the second half of the fiscal that will provide a strong base for revenue growth in FY2019.

"In terms of outlook, we expect to post strong topline growth in the new fiscal, based on the visibility we have from new wins and a healthy pipeline," he said.

The company, however, expects some adverse impact from the recent minimum wage hikes on the India domestic business, he added.

"It is exciting times for us. Newer technologies have opened up new opportunities for us that puts us in the front end of customer experience services," he said. PTI SR ABM ABM

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