Hexaware consolidated net dips 25% in December quarter

Net profit falls 25% to Rs.66.2 crore; revenue rises 16% to Rs.502.3 crore
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First Published: Mon, Feb 11 2013. 08 25 PM IST
Hexaware intends to distribute about 50% of net profit as dividend, said chairman Atul Nishar. Photo: Hemant Mishra/Mint
Hexaware intends to distribute about 50% of net profit as dividend, said chairman Atul Nishar. Photo: Hemant Mishra/Mint
New Delhi: Information technology company Hexaware Technologies Ltd on Monday said its consolidated net profit dipped 25% to Rs.66.2 crore for the quarter ended 31 December from Rs.88.2 crore in the year-ago period.
Its revenue, however, increased 16.3% to Rs.502.3 crore during the quarter from Rs.431.9 crore in the corresponding period last year.
“The Q4 2012 revenue was at $92.4 million, in-line with the revised quarterly revenue guidance of $ 92 million,” Hexaware said in a statement.
Hexaware had lowered its revenue outlook for the October-December quarter, citing changes in a contract and a $450,000 hit on account of Hurricane Sandy.
For the full year 2012, net profit grew 22.7% to Rs.327.6 crore, while revenue increased 34.3% to Rs.1,948.2 crore.
“With the investments made to strengthen our competencies and expansion of our field force strength in accordance with our strategic plan, we remain confident of delivering double digit revenue growth for the year 2013,” Hexaware Technologies CEO and vice-chairman P.R. Chandrasekar said.
For the January-March 2013 quarter, Hexaware expects revenue to be in the region of $94-95 million, a sequential growth of 1.7% to 2.8%.
The company has declared final dividend of Rs.1.20 per share (60%) on equity shares of Rs.2 each. The total dividend for 2012 stood at Rs.5.40 per share (270%) as against Rs.4 per share (200%) for the year 2011.
“The board has decided to continue with the liberal dividend policy and Hexaware intends to distribute about 50% of net profit as dividend. Given the financial strength and evident growth prospects, dividend will continue to be declared every quarter,” chairman Atul Nishar said.
The banking and capital markets segment, which contributed 30.5% of revenues, grew 28% in 2012.
Travel and transportation, and healthcare and insurance verticals accounted for 20.5% and 16.3%, respectively, of FY12 revenues. Emerging segments vertical contributed 32.7% in the revenues. In terms of geography, America’s contribution was 53.7%, while Europe and Asia-Pacific accounted for 27.3% and 7.3%, respectively.
“The revenue contribution from A-Pac is likely to be around 8% in 2013 enroute to attaining the stated objective of generating 10% of the company’s revenues over the medium-term,” the company said.
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First Published: Mon, Feb 11 2013. 08 25 PM IST
More Topics: Hexaware Technologies | Earnings | IT | revemue |
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