hSenid Business Solutions PLC (hSenidBiz) announced its financial results for the first quarter of FY2027. Total revenue for the quarter reached Rs 602.8 million, reflecting year-on-year growth of 28%.
The company’s recurring revenue model continued to strengthen during the quarter, with recurring revenues contributing 75% of total revenue. Exit Annualised Recurring Revenue (ARR) reached $ 5.7 million, representing a 26% increase compared to the corresponding period last year, reinforcing the resilience and predictability of the company’s revenue base.
The company recorded a net profit of Rs 51.0 million, a turnaround from the net loss in the same quarter of the previous year. While foreign exchange gains contributed to the profitability, core operating performance remained solid, with EBITDA excluding forex gains reaching Rs 81.4 million. Gross profit rose to Rs 321.8 million, delivering a gross margin of 53%. Profit before tax reached Rs 66.1 million with an 11% margin, demonstrating the continued operating leverage of the business as it scales.
Commenting on the quarter’s performance, hSenidBiz Founder and Chairperson Dinesh Saparamadu stated: “We are seeing an increasing shift towards AI-enabled workforce transformation. Our investment in product innovation and market expansion positions hSenidBiz to capitalise on these opportunities and deliver long-term value.”
hSenidBiz Chief Executive Officer Sampath Jayasundara commented: “Our performance this quarter reflects the disciplined execution of the strategy we have been building over the past few years. We remain focused on strengthening our commercial execution, enhancing the PeoplesHR platform, and delivering solutions that help customers realise greater value from their HR technology investments.”
During the quarter, the company continued to refine its go-to-market approach across focus markets and advanced the Lexi AI platform with the introduction of multi-agent orchestration capabilities. These enhancements support more intelligent cross-module workflows and move the company further towards its vision of a comprehensive Human Capital Operating System.
Looking ahead, hSenidBiz remains focused on accelerating Cloud ARR growth, expanding its presence in key markets, and investing in AI-driven innovation across the PeoplesHR platform.