1. Hinduja Global post 67% fall in Q3 net profit, shares slide over 12%

Hinduja Global post 67% fall in Q3 net profit, shares slide over 12%

Hinduja Global Solutions shares tanked as much as 12.50 per cent in the morning trade on Wednesday after the company reported 67.57 per cent fall in its net profit figures at Rs 17.11 crore for the quarter ended December 2015.

By: | New Delhi | Updated: February 10, 2016 4:22 PM
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Hinduja Global Solutions shares tanked as much as 12.50 per cent in the morning trade on Wednesday after the company reported 67.57 per cent fall in its net profit figures at Rs 17.11 crore for the quarter ended December 2015. (Photo: Reuters)

Hinduja Global Solutions shares tanked as much as 12.50 per cent in the morning trade on Wednesday after the company reported 67.57 per cent fall in its net profit figures at Rs 17.11 crore for the quarter ended December 2015. The company earned Rs 52.77 crore in the corresponding quarter a year ago.

At 11.00 am, shares of Hinduja Global Solutions (HGS) were trading 12.08 per cent down at Rs 401. The scrip opened at Rs 446 and had touched a high and low of Rs 446 and Rs 399, respectively, in trade so far. The scrip later settled the day 14.32 per cent down at Rs 390.80.

Net sales of the company grew 20.53 per cent year-on-year to Rs 882.90 crore for the quarter under review.

Commenting on the results, Partha DeSarkar, chief executive officer, Hinduja Global Solutions in a release said, “HGS continued its strong trajectory in topline growth at 20.5 per cent yoy in Q3, led by robust performance in healthcare, consumer and public sector verticals. Profitability was lower in the quarter due to increased investments in ramp ups and exit costs related to unprofitable clients.”

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