PeoplesHR powered by hSenidBiz, Accelerates into Top Gear in 2Q FY24
hSenid Business Solutions (hBS) announced its earnings results for the period ended 30 September 2023, reporting a total revenue of LKR 400.3 million for the concluded quarter. The primary driver of revenue growth can be attributed to the success of the PeoplesHR Cloud business, which accounts for 56 percent of company revenues. A majority of new business was generated in the APAC markets yielding results for the investments made in talent recruitment and market development initiatives in this region. Driven by the Cloud business, core recurring revenues now account for a notable 55 percent of total revenues. Amidst ongoing investments in sales and marketing initiatives, company earnings have shown an improvement from the preceding quarter, indicating positive signs of the stabilisation in costs and company net earnings.