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Business News/ Companies / Company-results/  Hexaware Q1 net profit at `79.3 crore
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Hexaware Q1 net profit at `79.3 crore

Hexaware’s first-quarter profit declines 10.3% from a year ago, but rises 19.8% from the preceding quarter

Revenue rose 1.1% from the preceding three months and 15.8% from a year earlier to `507.7 crore. Photo: Hemant Mishra/Mint (Hemant Mishra/Mint)Premium
Revenue rose 1.1% from the preceding three months and 15.8% from a year earlier to `507.7 crore. Photo: Hemant Mishra/Mint
(Hemant Mishra/Mint)

Mumbai: Hexaware Technologies Ltd said first-quarter profit declined 10.3% from a year earlier to 79.3 crore, but rose 19.8% from the preceding December quarter.

Revenue rose 1.1% from the preceding three months and 15.8% from a year earlier to 507.7 crore.

“The qoq (quarter-on-quarter) improvement in volume, utilization, onsite-offshore ratio enabled robust improvement in gross margin and operating margin," said Atul Nishar, chairman at Hexaware. “We expect margins to expand further in the coming quarter."

Hexaware’s operating margin for the first quarter widened to 17.4%.

According to the company forecast, second quarter revenue is likely to be in the range of $94-96 million.

Hexaware added 11 new clients during the quarter and has 213 active clients currently.

Hexaware’s share fell 0.85% to 82.10 at 11:14am on BSE on Monday, while the exchange’s benchmark Sensex gained 0.24% at 19,332.55 points.

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Published: 29 Apr 2013, 11:16 AM IST
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