Mumbai: Hexaware Technologies Ltd said first-quarter profit declined 10.3% from a year earlier to Rs.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 Rs.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 Rs.82.10 at 11:14am on BSE on Monday, while the exchange’s benchmark Sensex gained 0.24% at 19,332.55 points.