Hinduja Global board asks for review of existing portfolio of businesses

Our Bureau. Mumbai | Updated on September 07, 2020

The board of Hinduja Global Solutions (HGS) has asked for a review of the existing portfolio of businesses to unlock value in all divisions of the company.

In a statement to the exchanges, the company said: “Keeping in view the changing market dynamics and the opportunities to unlock value in all the divisions, the board of HGS has asked for a review of HGS’ existing portfolio of businesses.”

Further, this review could result in changes to HGS’ corporate structure and initiation of mergers, acquisitions or divestment where required, the board noted. “The outcome of the review exercise shall be placed before the board to determine the next course of action best suited for the interest of the stakeholders,” it said. In Q1 FY21, HGS reported net profit of ₹49.2 crore, a 21.7 per cent rise increase when compared to ₹40.4 crore in the same period last year. HGS clocked revenues was ₹1,235.8 crore, a 1.5 per cent growth, when compared to ₹1,218 crore in the year-ago period. “The board and management of HGS are very conscious of the need to enhance the profitability and value of all business divisions of the company. Accordingly, HGS divested its India domestic business in January 2020,” it said.

HGS has 37,165 employees in total, more than 200 clients and has 60 global delivery centers across seven countries. Last year, the company had entered into a definitive agreement to sell its India customer relationship management business to Altruist India for ₹40 crore. The CRM business mainly comprised voice-based contact centre services and some non-voice services to domestic customers

Published on September 07, 2020

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