Hinduja Global Solutions (HGS) recorded a net profit of Rs131.25cr, rose 203.33% in the quarter ended March 2021 as against Rs43.27cr during the previous quarter ended March 2020.
The stock is currently trading at Rs2,476.15 up by Rs117.9 or 5% from its previous closing of Rs2,358.25 on the BSE. The scrip opened at Rs2,476.15 and has touched a high and low of Rs2,476.15 and Rs2,428.25 respectively.
The sales also increased by 21.61% to Rs1563.59cr in the quarter ended March 2021 as against Rs1285.70cr during the previous quarter ended March 2020.
The Board of Directors of the Company has recommended a Special dividend of Rs15 per share (i.e.150%), subject to the approval of the shareholders.
Speaking on the results, Partha DeSarkar, Executive Director and Global CEO of HGS said: “The onset of the pandemic last year led to several challenges for HGS. I am very pleased with how TeamHGS overcame this phase by turning these challenges into opportunities.
It’s been a fantastic performance on many parameters. On like-to-like basis, HGS registered double-digit growth in revenue, EBIDTA and PAT for FY2021. Our PAT has been the highest-ever for both Q4 and full-year of FY2021.
Our strategy in FY2021 was simple – shift our people to primarily Work@Home model, create a strong momentum in client wins (new and existing), add big wins in core verticals like Healthcare and Public Sector and sell more digital services. This has helped us achieve significant growth in the business and improve profitability. Additionally, adoption of cloud telephony has helped us scale our business rapidly, without having to spend on capex for brick and mortar expansion. The successful transition to Work@Home has also given us the highest employee satisfaction scores and customer satisfaction scores ever.
Looking ahead, we expect to build on this momentum and are investing in aggressive growth in FY2022.”