Jan 28, 2013 02:23 PM IST | Source: Moneycontrol.com

Hexaware says not lost any clients; company on growth track

Software services firm Hexaware Monday informed the stock exchanges that it has not lost any of its large clients as rumoured in the market, and not "encountered any adverse outcomes in the recent deal pursuits."

Hexaware says not lost any clients; company on growth track

Moneycontrol Bureau

Software services firm Hexaware on Monday informed the stock exchanges that it has not lost any of its large clients as rumoured in the market, and not "encountered any adverse outcomes in the recent deal pursuits."

The company’s stock was among the big losers in the mid-cap space on Thursday, shedding over 9 percent. On Fridsay, the stock closed 4 percent higher at Rs 80.80

The company said it continues to progress on its revenue growth trajectory, and that its guidance of 18 percent revenue growth in 2012 is above industry average.

In early December, the company had lowered its revenue guidance for the quarter ending that month to USD 92 million from its earlier forecast of USD 94.7-96.5 million. As a result, the guidance for calendar 2012 was lowered to 18 percent from a little over 20 percent earlier.

The stock has fallen around 28 percent since the revised guidance. Hexaware will be announcing its fourth quarter (October-December) and 2012 earnings on February 11.

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