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Hexaware Q1 net up at Rs 11.52 crore
Mumbai, Apr 15: Global IT software company Hexaware Technologies Ltd has posted a profit of Rs 11.52 crore for the first quarter ending March 31, 2004 as compared to Rs 1.75 crore in Q1 of 2003.
Mumbai, Apr 15: Global IT software company Hexaware Technologies Ltd has posted a profit of Rs 11.52 crore for the first quarter ending March 31, 2004 as compared to Rs 1.75 crore in Q1 of 2003.
Gross revenues for the period under review were up at Rs 114.37 crore as against Rs 66.69 crore during the period ending March 2003, the company said in a release here today.
Given the improved visibility of business for the rest of the year, the company has decided to raise the revenue guidance for 2004 to us dollar 108 million against USD 102 million and a net profit of USD 11.2 million as against USD 10.2 million, the release said.
The company said it has taken a forward cover for the total dollar receipts into India for the entire year to protect shareholder interest. Hexaware chairman Atul Nishar said given that this was the fourth quarter in a row that the company had recorded a double digit growth in revenues, focus on customer delight would fuel the growth and help attain critical mass.
Chief executive officer Rusi Brij said eight new clients, including five in Europe and two in US, were added during the quarter.
In line with active growth, the company has increased the headcount at the end of the current quarter to 2,636, an increase of 293 over the preceding quarter, Brij added.
Bureau Report
Given the improved visibility of business for the rest of the year, the company has decided to raise the revenue guidance for 2004 to us dollar 108 million against USD 102 million and a net profit of USD 11.2 million as against USD 10.2 million, the release said.
The company said it has taken a forward cover for the total dollar receipts into India for the entire year to protect shareholder interest. Hexaware chairman Atul Nishar said given that this was the fourth quarter in a row that the company had recorded a double digit growth in revenues, focus on customer delight would fuel the growth and help attain critical mass.
Chief executive officer Rusi Brij said eight new clients, including five in Europe and two in US, were added during the quarter.
In line with active growth, the company has increased the headcount at the end of the current quarter to 2,636, an increase of 293 over the preceding quarter, Brij added.
Bureau Report