The company reported profits of Rs 16.64 crore a year ago. | Photo courtesy of Wikipedia
Business process management company Hinduja Global Solutions has posted a manifold rise in its consolidated profit at Rs 161.5 crore in the first quarter ended June 30, primarily due to the proceeds from the sale of the healthcare business received during the period.
The company reported a profit of Rs 16.64 crore a year ago.
Excluding the one-time gain on sale of healthcare business, HGS posted a loss of Rs 57 crore during the reported quarter from continuing operations.
Hinduja Global Solutions (HGS) revenue from operations declined 3.6 per cent to Rs 1,091.92 crore in the June 2024 quarter from Rs 1,133.49 crore in the year-ago period.
“Profitability for the quarter was negatively impacted due to some one-time costs and we expect our profitability to improve from the second quarter of fiscal year 2025 onwards.
“During the quarter ended June 2025, we received an additional consideration on sale of the healthcare business resulting in a net gain of Rs 218.5 crore shown under Profit from Discontinued Operations,” HGS Whole-Time Director and Group CEO Partha DeSarkar said in a statement.
(Only the headline and image of this report may have been reworked by Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
First published: August 14, 2024 | 10:07 PM IS
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