Hinduja Global Solutions Limited (HGS), is a Mid-Cap company having a market capitalization of Rs. 6,921.12 crore, is engaged in the business of Knowledge Process Outsourcing (KPO) and Business Process Outsourcing (BPO). The firm is a global leader in Business Process Management (BPM), digital customer experience and consumer engagement. The Corporation today said that its Board of Directors has declared a record date for the Third Interim Dividend to ascertain the eligibility of shareholders for the above purpose.
“The Board of Directors has declared the third interim dividend 2.50 per share (25%) for the financial year 2022-23 and fixed March 6, 2023 as the ‘record date’ for payment of this interim dividend. the said dividend of 2.50 per share will be paid to eligible members of the company on or before March 15, 2023, Hinduja Global Solutions said in a stock exchange filing today.
In Q3FY23, the company declared a consolidated net income of Rs. 1164.64 cr as against 1075.28 Cr in Q3FY22, representing a YoY growth of 8.3%. Company’s EBITDA reached 127.8 Cr in the quarter ended Dec 2022 up 57.1% YoY while its net profit reached As compared to net loss of 518.40 Cr in Q3FY23 378.80 crore in the year-ago quarter.
HGS said its final share buyback price was fixed at Rs. 1,700 per equity share for a total consideration not exceeding Rs. 1,020 crore, excluding buyback tax; And for the same purpose the record date has been fixed as March 6, 2023.
Speaking on the results, HGS Executive Director and Group CEO Parth Desarkar said: “HGS continues to maintain its momentum, with growth across most of its geographies, expansion in existing client accounts and acceleration in its digital solutions business Is. The company reported 8.3% YoY growth in total revenue for Q3 FY2023, while BPM revenue grew in double digits.”
“The demand landscape for BPM services today is quite positive and is evolving towards more complex and digital-based CX opportunities. We are looking to drive digital-based solutions for our traditional customer engagement clients led by an integrated sales team Our digital business grew 36% year-over-year in the third quarter of fiscal 2023. We continue to deepen our relationships with existing digital customers and focus on long-term deals in areas such as managed services and cloud The TechLink acquisition, which we signed in December 2022, is expected to close soon and will further enhance our digital and analytics capabilities,” said Parth Desarkar.
“HGS has an encouraging pipeline across key verticals, both onshore and offshore. To support the multilingual needs of US-based customers, we have established a new center in Barranquilla, Colombia, and will look to scale up over the next few quarters. We are delighted to have Patrick Elliott join us as our new CEO of UK operations. His extensive experience in the outsourcing business, particularly in digital, and understanding of this sector will be an asset to HGS as we seek to drive high growth in the UK market,” added Partha Deserkar.
HGS shares closed today on NSE 1,316 per share, up 1.22% from the previous close. 1,300.15.
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