Q4FY24 Quarterly & FY24 Annual Result Announced for Hinduja Global Solutions Ltd.
BPO/KPO company Hinduja Global Solutions announced Q4FY24 & FY24 results: Q4FY24 Financial Highlights: Total income stood at Rs 1,257.9 crore, a YoY growth of 7.7%. Revenue from operations stood at Rs 1,098.7 crore, a YoY growth of 2.7%. Operating EBITDA was Rs 66.2 crore, up 82.5% YoY; EBITDA margins for the quarter were 6.0%. PAT stood at Rs 87.9 crore. As on March 31, 2024, Net Cash and Treasury Surplus stood at Rs 5,012.6 crore FY24 Financial Highlights: Total income stood at Rs 5,087.8 crore, a YoY growth of 1.6%. Revenue from operations stood at Rs 4,615.7 crore, a YoY growth of 2.5%. Operating EBITDA was Rs 355.9 crore, a 45.8% growth YoY; EBITDA margins were 7.7%. PAT stood at Rs 131.2 crore. Total dividend for the year is Rs 7 per share. Speaking on the results, Partha DeSarkar, Whole-time Director and Group CEO of HGS said: “HGS ended the year with a solid performance in Q4FY24 across both our BPM and media divisions. On YoY basis, HGS’ operating EBITDA has increased by 82.5% while operating EBITDA margins expanded by 260 basis points to 6.0%. The recently acquired entities TekLink and Diversify have done very well. HGS also signed 11 new CX clients in Q4, taking the fiscal count to 41, showcasing strong demand for our technology-led CX services. The highlight of the full-year performance has been our operating EBITDA growing by 45.8% YoY and our Operating EBITDA expanding by 230 basis points to 7.7%. In March 2024, we incorporated a subsidiary in South Africa to service clients from the UK, US and Australia, and expect to start operations in July 2024. In the BPM business, we continue to focus aggressively on customizing horizontal services such as AI, automation and cloud etc., to develop industry-specific solutions and drive more value in the key verticals we support. An important part of this approach has been to engage with partners such as Cranium and Form1 Partners to crossleverage our capabilities for the market. FY2024 was the first full year since the merger with NXTDIGITAL. We are pleased with how the synergies between the two businesses are panning out – including collaborating to develop the NetX application under the recentlylaunched B2B brand CelerityX and co-working on automating various processes to enhance productivity and speed. We are excited about creating more collaborative opportunities between the two entities going ahead.” Commenting on the Digital Media division’s performance, Vynsley Fernandes, Whole-time Director of HGS and Head of the Digital Media business said, “Our focus in FY2024 was to build on our strong pan-India digital distribution expertise and technology innovation – by driving our retail, commercial and enterprise broadband ventures. Those initiatives, setting the foundation for future growth, are seeing traction. Whilst CelerityX, our enterprise business, continues to make gains on the back of the recently launched OneX unified network-as-aservice solution, our OIL retail broadband customer base has surged by more than 23% over the previous fiscal. That focus on digital inclusion is also reflected in our corporate actions over the last few months – first acquiring a majority stake in leading Mumbai-based ISP Seven Star Broadband and then signing on Triple Play Broadband, a Delhi-based premier ISP as an alliance partner.” Result PDF31-05-2024