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Hexaware Q1 net profit down 10% at Rs 79.27 cr

The Mumbai-based firm had posted net profit of Rs 88.36 crore in the year-ago period, Hexaware said in a BSE filing.

New Delhi: IT services firm Hexaware on Monday reported 10 percent fall in its consolidated net profit at Rs 79.27 crore for the quarter ended March 31, 2013.

The Mumbai-based firm had posted net profit of Rs 88.36 crore in the year-ago period, Hexaware said in a BSE filing.

Its consolidated income rose by 16 percent to Rs 507.68 crore in the January-March quarter of 2013, from Rs 438.29 crore in the same quarter of 2012.

For the entire 2012 -- the firm follows January-December fiscal -- Hexaware had a net profit of Rs 327.64 crore, and revenue of Rs 1,948.17 crore.

The company said it expects revenue for April-June 2013 to be in the range of USD 94-96 million (about Rs 522 crore).

"Revenue for Q2 2013 is likely to be in the range of USD 94-96 million. A quarter-on-quarter sequential revenue growth in USD terms of 0-2 percent," it added.

During the January-March quarter, the firm added 11 clients across all its key focus areas taking the total number of clients to 216.

One client each was added in the banking and financial services (BFS) domain and travel and transportation vertical and two were added in healthcare and insurance (H&I) space.

Besides, six clients are in enterprise solutions, 1 in quality assurance & testing services (QATS) and 2 clients in business process outsourcing (BPO) space.

"Of the 11 clients added in Q1 2013, 5 customers are based in Americas, 2 in Europe and 4 in Asia Pacific (APAC) region, it said.

The number of clients with annual revenues in excess of USD 20 million remained steady at 3, while five clients are in the USD 10-20 million space, 7 clients in the USD 5-10 million, 40 in the USD 1-5 million category and 55 clients are in USD 1 million plus category, it added.

On the revenue breakup in terms of geographies, 66.8 percent of revenues originated from Americas, 26.3 percent from Europe and the remaining 6.9 percent from the Asia Pacific region.

Hexaware signed a deal with revenue estimated at USD 30 million (about Rs 163 crore), with an existing Fortune 500 client, headquartered in the US. The firm has been associated with this multi-billion corporation for seven years and this contract extends the association by another three years.

Cash and cash equivalents at the end of March 2013 rose to USD 104.3 million (Rs 566 crore), up by Rs 119 crore from Rs 447 crore at the end of December 2012.

The global headcount was 8,670 by the end of March 2013.

Hexaware inaugurated its third global delivery centre in Mexico. This expansion will allow it to hire 85 IT engineers in the coming months taking the total employee count to 385.


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