The shares of HGS closed today on the NSE at ₹1,316 apiece, up by 1.22% from the previous close of ₹1,300.15. (istockphoto)

SYNOPSIS
Hinduja Global Solutions Ltd. (HGS), a mid-cap company with a market capitalization of Rs. 6,921.12 Cr., engages in the business of knowledge process outsourcing (KPO) and business process outsourcing (BPO).

Hinduja Global Solutions Ltd. (HGS), a mid-cap company with a market capitalization of Rs. 6,921.12 Cr., engages 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 has said today that its Board of Directors has declared a record date for 3rd interim dividend in order to ascertain the shareholders' eligibility for the aforementioned purpose.

“The Board of Directors have declared third interim dividend of ₹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 shall be paid to the eligible Members of the Company on or before March 15, 2023," said Hinduja Global Solutions in a stock exchange filing today.

In Q3FY23, the company declared a consolidated net income of ₹1164.64 Cr compared to ₹1075.28 Cr in Q3FY22, representing a YoY growth of 8.3%. The company's EBITDA reached ₹127.8 crore in the quarter ended December 2022 up 57.1% YoY whereas its net profit reached ₹518.40 Cr in Q3FY23 compared to a net loss of ₹378.80 Cr in the year-ago quarter.

HGS said its final share buyback price was fixed for Rs. 1,700 per equity share for an aggregate consideration not exceeding Rs. 1,020 crores, excluding buyback tax; and for the purpose of the same the record date has been fixed as March 6, 2023.

Speaking on the results, Partha DeSarkar, Executive Director and Group CEO of HGS said: “HGS continues to sustain its momentum, led by growth in most of its geographies, expansion in existing client accounts and traction in its digital solutions business. The company posted a 8.3% YoY growth in total income for the third quarter of FY2023 while BPM revenue grew in double-digits."

“The demand scenario for BPM services today is quite positive and evolving to more complex and digital-led CX opportunities. We are looking to drive digital-led solutions for our traditional consumer engagement clients, led by an integrated sales team. Our digital business grew by 36% YoY in Q3 FY2023. We continue to deepen our relationships with existing digital clients and are focusing on long term deals in areas such as managed services and Cloud. The TekLink acquisition, which we signed in December 2022, is expected to close shortly and will further enhance our digital and analytics capabilities," said Partha DeSarkar.

“HGS has an encouraging pipeline across key verticals for both onshore and offshore. To support the multi-lingual needs of US-based clients, we have set up a new center in Barranquilla, Colombia, and will look to scale in the next few quarters. We’re pleased to have Patrick Elliott join us as the new CEO for our UK operations. His extensive experience in the outsourcing business, especially in digital, and understanding of this region will be an asset to HGS as we look to drive higher growth in the UK market," Partha DeSarkar further added.

The shares of HGS closed today on the NSE at ₹1,316 apiece, up by 1.22% from the previous close of ₹1,300.15.

Courtesy: Mint