Hinduja Global Solutions Sees Huge Profit Jump in Q1

Hinduja Global Solutions (HGS) reported a significant increase in consolidated profit to Rs 161.5 crore for the first quarter ended June 30, primarily due to the sale of its healthcare business. Despite this, HGS faced a decline in revenue and expects profitability improvements in the future.

Hinduja Global Solutions (HGS) has announced a remarkable surge in its consolidated profit, clocking in at Rs 161.5 crore for the first quarter ending June 30. This surge is mainly attributed to the proceeds from the sale of its healthcare business. Last year, the company had reported a profit of merely Rs 16.64 crore.

Despite the impressive profit boost, HGS experienced a 3.6% decline in revenue from operations, amounting to Rs 1,091.92 crore in the June 2024 quarter, compared to Rs 1,133.49 crore in the same period the previous year. The company's profitability was also impacted by one-time costs in the reported quarter.

Looking ahead, HGS expects an improvement in profitability from Q2 FY2025 onwards. HGS's Whole-time Director and Group CEO Partha DeSarkar confirmed the additional payment received towards the healthcare business sale, resulting in a net profit of Rs 218.5 crore under Profits from Discontinued Operations for the quarter ending June 2025.

(With inputs from agencies.)