Q3 2024 Hinduja Global Solutions Ltd Earnings Call Transcript
Key Points
- Hinduja Global Solutions Ltd (BOM:532859) reported a double-digit growth in top line across business process management services and digital media services.
- EBITDA and margin expansion improved significantly on a year-on-year basis from 11% to approximately 16%.
- Profit before tax before exceptional items stood at INR16.2 crore compared to a loss of INR28.4 crore, indicating a strong turnaround.
- The company has signed technology partnerships, such as with Form1 Partners in the UK, to strengthen its market offerings.
- The digital media business launched a new product, NetX, which has been well-received and is expected to be a game-changer for the connectivity and networking landscape in India.
- Despite the improvements, the profit after tax (PAT) was down due to exceptional items and significant tax reversals.
- Economic uncertainty driven by high interest rates continues to affect decision-making and lengthen sales cycles.
- A large part of operations remains work-from-home, leading to the closure of centers in El Paso, Texas, and Alabang, Philippines.
- Other income showed a slight dip of about 15% on a quarter-on-quarter basis.
- The nine-month performance showed mixed results with operating revenues up only 2.4% and total EBITDA down due to a reduction in other income.
Good evening, ladies and gentlemen. A warm welcome to Q3 and nine Months FY 2023 fourth earnings conference call have Hinduja Global Solutions Limited. From senior management. We have with us today Mr. Partha DeSarkar, Whole-Time Director and Group CEO; Mr. Srinivas Palakodeti Global CFO; Mr. Vynsley Fernandes, Whole-Time Director, HGS., and Head of Digital Media business; and Mr. Lakshminarayanan C S, Chief of Staff, NXTDIGITAL, and Chief Financial Officer, ONEOTT iNTERTAINMENT LTD.
(Operator Instructions) Please note that this conference is being recorded.
I now hand the conference over to Mr. Darshan Mankad from Adfactors. Thank you, and over to you sir.
Thank you, Rhea. Good evening, everyone. We welcome you to the earnings call of Hinduja Global Solutions Limited for the third quarter and nine months ended December 31, 2023. Before we begin the earnings call, I would like to mention that some of the statements made during today's call might be forward-looking in nature and hence may involve risk and
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