HGS to hire 1,000 people for its BPO business by Sept

"In this quarter we are planning to hire 1,000 people for our offices in India," Partha De Sarkar, CEO, HGS told PTI.

For the current financial year, the company has plans to hire 2000 people.

HGS today reported a 12% decline in consolidated net profit at Rs 20.29 crore for the first quarter ended June 30, 2011.

HGS registered a profit of Rs 23.11 crore for the same period of last financial year.

"Our investments in two start-ups and weaker dollar during the quarter impacted our margin," Sarkar said. 

However, net sales of the company was up by 22.8% at Rs 278.4 crore against Rs 226.68 crore posted in Q1, FY'11. 

"In addition to the seasonality of our client business, this quarter reflects the effect of wage increases, weakening of the dollar and ramp up costs of new centres in Philippines and India,"  Sarkar said.

During the quarter, HGS opened a delivery centre in Delhi, Sarkar added.

"We have initiated steps for setting up a fourth centrein Philippines. Additionally we have undertaken investments for future growth in the areas of sales, human resources, branding and technology up gradation," Sarkar said.