Hinduja Global Solutions announces First Quarter Results FY 2021

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Comserve Inc.

Sep 08, 2020, 12:00 EST

Bronx, United States, Sep 08, 2020, 12:00 /Comserve / -- Hinduja Global Solutions, on Sept. 5, 2020, announced its First Quarter Results (unaudited) for the FY 2021.

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Mumbai, India, Sept 7, 2020 -- Hinduja Global Solutions, on Sept. 5, 2020, announced its First Quarter Results (unaudited) for the FY 2021. Partha DeSarkar, who is the Wholetime Executive Director and the CEO of Hinduja Global Solutions talked about how the company has started FY 2021 on a strong note while building on its momentum from last year. Considering the current market scenario, the company performed much better than expected in the first quarter. The verticals of Consumer Engagement Services and Healthcare lead to robust growth in topline (comparable numbers) and profitability after posting good traction.

The Company mentioned that their resilient delivery model along with a quick response in shifting from an office to a work from home led model helped them deliver business to their clients with no disruption. Even with the various challenges due to the pandemic, the company saw strong demand for its services. With an advantage due to their current portfolio mix, the company won new logos across verticals for both short- and long-term opportunities. The pandemic has opened a whole new potential opportunity, even across their digital journey. The company is focused on offering new-age solutions that can create real outcomes for businesses.

The revenues for Q1 FY 2021 were recorded at INR 12,359 million with revenue growth of 8.7% on a like-to-like basis. This excludes pass-through revenues and India Domestic CRM business revenues which are included in Q1 FY 2020. The EBITDA was INR 1,458 million with a growth of 21.7% YoY. The Capital expenditure for the quarter was recorded at INR 349 million. This includes INR 43 million for COVID related work from home expenditure. There was a reduction in gross debt of INR 265 million in Q1 FY2021 and as on Jun. 30, 2020, the Net Cash stood at INR 629 million.

Hinduja Global Solutions had won many awards in Q4 FY2020. Some of these include Winner of India’s First-Ever Hackathon for Recruiters - TRAILBLAZERS, Instahiring 2020, and Best Use of Data & Insights in Transformational category, Customer Fest Leadership Awards 2020.a

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