All Rights Reserved Finance News 2020.
Hinduja Global Solutions board asks for portfolio review to keep up with changing biz dynamics
Hinduja Global Solutions (HGS) in Monday said its board has asked for the review of existing portfolio of businesses to unlock benefit in all divisions of the firm. In a regulatory filing, HGS said keeping in view this changing market dynamics as well as the opportunities to unlock benefit in all the divisions, the board of HGS has questioned for a review from the company’s existing portfolio of companies.
This will be done in appointment with external consultants, in the event required, it added.
“The board and management involving HGS are very conscious of the necessity to enhance the profitability in addition to value of all business categories of the company. Accordingly, HGS divested its India local business in January 2020,” it noted.
This review, the company said, you could end up changes in HGS’ corporate construction and initiation of mergers, acquisitions and/or divestments just where required.
“The outcome of this review exercise shall be put before the board to decide the next course of action best suited for the interest of the stakeholders,” it added.
HGS got registered a 21.8 per cent rise in consolidated online profit at Rs 49.2 crore for this quarter ended June 2020 from Rs 40.some crore in April-June 2019 quarter. Its revenue by operations grew 1.five per cent to Rs one,235.8 crore within the quarter under review while against Rs 1,218 crore in the year-ago time.
The company’s revenue expansion in the June 2020 1 / 4 was at 8.7 % year-on-year on a like-to-like schedule, excluding pass-through revenues in addition to India domestic customer marriage management (CRM) business profits that were included in the first 1 / 4 of FY2020.
In December last year, HGS had released sale of its India local CRM business to Altruist Technologies.