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This is an archive article published on July 29, 2011

Hinduja Global Solutions Q1 net profit dips by 12%

Company was up by 22.8% at Rs 278.4 cr against Rs 226.68 cr

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BPO company Hinduja Global Solutions (HGS) on Friday reported a 12 per cent decline in consolidated net profit at Rs 20.29 crore for the first quarter ended June 30,2011.

HGS registered a profit of Rs 23.11 crore for the same period of last financial year.

However,net sales of the company was up by 22.8 per cent at Rs 278.4 crore against Rs 226.68 crore posted in Q1,FY’11.

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“In addition to the seasonality of our client business,this quarter reflects the effect of wage increases,weakening of the dollar and ramp up costs of new centres in Philippines and India,”CEO,HGS,Partha De Sarkar said in a statement.

During the quarter,HGS opened a delivery centre in Delhi,Sarkar added.

“We have initiated steps for setting up a fourth centre in Philippines. Additionally we have undertaken investments for future growth in the areas of sales,human resources,branding and technology up gradation,” Sarkar said.

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