HOV Services Limited — Updates, 14-08-2025: Press Release

HGM Limited reported robust Q1 results, with standalone revenue at ₹13.61 Cr, up 146% QoQ and 144% YoY. Profit After Tax reached ₹1.73 Cr, increasing 31% QoQ and 122% YoY. This strong performance is driven by expanded client engagements in AI-enabled healthcare services and a significant headcount increase to ~1,300. The company announced a proposal to sell its wholly-owned subsidiary, HOVS LLC, and plans to incorporate a new subsidiary in the Cayman Islands, HCI LLC. HGM maintains strong liquidity and a debt-free balance sheet, supporting continued investments in AI-driven platforms for future growth.