HOV Services Q1 Results Reaches a Total Revenue of ₹5.57 crores & Operating Income ₹0.67 crores

HOV Services Q1 Results: HOV Services reported strong financial results for the quarter ending June 2024. The total revenue for this quarter was ₹5.57 crores, which is an impressive increase of 30.60% QoQ compared to ₹3.13 crores in the previous quarter and a significant 55.98% YoY rise from ₹3.57 crores in the same quarter last year. This growth indicates that the company is expanding its business successfully. However, selling and general administrative expenses also grew, reaching ₹4.26 crores, a 34.78% QoQ increase from ₹2.31 crores in March 2023 and a 61.50% YoY rise from ₹2.64 crores in June 2023. 

HOV Services still achieved an operating income of ₹0.67 crores, which is a 2.76% QoQ increase from ₹0.34 crores and an impressive 80.21% YoY growth from ₹0.37 crores. The net income slightly decreased to ₹0.78 crores, down 4.00% QoQ from ₹0.84 crores but up 50.25% YoY from ₹0.52 crores. Overall, while some costs increased, HOV Services showed strong growth in revenue and income when comparing year-over-year (YoY) performance.

Here's a summary of HOV Services Q1 results, including key financial figures:

(All figures in crores except per share value)

Source: Here 

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HOV Services Q1 Results

The financial results table for HOV Services shows important details about the company’s performance for the quarter ending on June 30, 2024, compared to previous periods. The company earned a total income of Rs. 601.48 lakhs in the latest quarter, which is higher than Rs. 473.59 lakhs from the previous quarter (March 31, 2024) and Rs. 394.82 lakhs a year ago (June 30, 2023). This increase is due to higher revenue from operations, which reached Rs. 557.48 lakhs.

HOV Services spent Rs. 494.86 lakhs in the latest quarter, which is also higher than previous periods. Employee benefits are the largest expense, costing Rs. 426.43 lakhs. The profit before accounting for any unusual items was Rs. 106.62 lakhs, showing that the company is making a profit. After considering taxes and other exceptional items, the profit for this quarter is Rs. 77.78 lakhs.

Here's the financial results of HOV Services presented in a table format:

(Rs. In Lakhs)

HOV Services Financial Performance

HOV Services is a company with a market capitalization of ₹104 crore, which means this is the total value of all its shares. The current price of its stock is ₹82.9, and it has reached a high of ₹111 and a low of ₹50. This company has a Price-to-Earnings (P/E) ratio of 35.4, indicating how much investors are willing to pay for each unit of earnings. The book value, or the value of its assets, is ₹18.1 per share. HOV Services does not pay dividends, and it has a Return on Capital Employed (ROCE) of 15.8% and a Return on Equity (ROE) of 11.8%, showing how effectively it uses its capital and equity to generate profit.

Here’s the information you provided in a clear table format:

Quarterly Results 

In the quarterly results for HOV Services, the data shows the company’s performance in December 2023, March 2024, and June 2024. In December 2023, the sales were ₹3.99 crores, with expenses of ₹3.35 crores, resulting in an operating profit of ₹0.64 crores and a profit margin of 16.04%. By March 2024, sales increased to ₹4.27 crores, expenses slightly rose to ₹3.46 crores, leading to a higher operating profit of ₹0.81 crores, and an improved profit margin of 18.97%. In June 2024, sales further grew to ₹5.57 crores, expenses increased to ₹4.65 crores, resulting in an operating profit of ₹0.92 crores and a profit margin of 16.52%.

Here's the table with only the data for December 2023, March 2024, and June 2024, including all particulars:

(Consolidated Figures in Rs. Crores)

About HOV Services 

HOV Services is a company that provides business process outsourcing (BPO) and knowledge process outsourcing (KPO) services. Established to help organizations improve their efficiency and reduce costs, HOVS uses innovative technology and skilled employees to deliver high-quality services. The company focuses on building strong partnerships with clients, ensuring they receive tailored solutions that meet their unique needs. HOVS values its employees, offering them opportunities for growth and development, and rewarding them for their hard work.

HOV Services has received several awards for its excellence in service and contributions to the BPO industry. HOVS aims to create value for shareholders, customers, and employees alike by investing in its services and expanding through strategic acquisitions. With a commitment to innovation and a focus on collaboration, HOV Services continues to be a key player in the outsourcing sector, helping businesses thrive in a competitive environment.