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Hinduja Global Solutions hit an upper circuit of 5% at Rs 2476.15 after the company’s consolidated net profit surged 203% to Rs 131.25 crore in Q4 FY21 from Rs 43.27 crore in Q4 FY20. Net sales during the quarter increased 21.6% YoY to Rs 1,563.59 crore.
While the company’s interest payments declined 17.5% to Rs 20.44 crore, depreciation costs fell 12.5% to Rs 73.40 crore in Q4 FY21 over Q4 FY20.
Profit before tax in Q4 FY21 stood at Rs 167.57 crore, up 88% from Rs 89.14 crore in Q4 FY20. Current tax outgo rose by 26.2% YoY to Rs 40.28 crore in the fourth quarter.
The company recorded 66.4% rise in consolidated net profit to Rs 336.05 crore on 12.1% increase in net sales to Rs 5588.92 crore in FY21 over FY20.
The company’s board has recommended a final dividend of Rs 22 per equity share, which includes a special dividend of Rs 15 per equity share, for the financial year 2020-21.
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.”
Hinduja Global Solutions (HGS) is engaged in business process management. HGS with its subsidiaries offer voice and non-voice based services such as contact center solutions and back office transaction processing across America, Canada, Europe, Asia and Middle East.
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