Hinduja Global Solutions (HGS) on Friday reported a 2.4% decline in profit for the third quarter at Rs 52.8 crore. The fall was largely due to unfavourable foreign currency movement and the ramp-up of Philippines operations. Revenue for the third quarter rose 11.5%. Partha DeSarkar, CEO, HGS said, “Our continued focus on our sales and marketing initiatives resulted in the addition of new clients as well as increased business from existing clients.“
Ebitda at the end of third quarter was Rs 90.4 crore, recording marginal growth 1.6% on an annual basis. Sarkar expressed confidence that HGS’s profitability will improve on the completion of ramp-up in Philippines.