HGS Q4 net up 29.3% at Rs 40.2 cr

MUMBAI: Hinduja Global Solutions today said its net profit increased 29.3 per cent to Rs 40.2 crore for the quarter ended March 31, 2013 from Rs 31.1 crore in the year-ago period.

This increase was primarily due to a decline in interest expense driven by repayment of USD 10 million taken against deposits of HGS International, the company said in a statement.

Its net sales grew 14.3 per cent to Rs 526.2 crore in the reported quarter from Rs 460.4 crore in the year-ago period.

"Our new business pipeline looks very promising...In the near term, our profitability and margins are expected to benefit from enhanced utilisation levels at our facilities primarily in the Philippines and Canada," HGS CEO Partha De Sarkar said.