Hexaware Q4 net down 3.4% to Rs 33.75cr

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Hexaware Q4 net down 3.4% to Rs 33.75cr

Hexaware Technologies has announced its fourth quarter CY06 results. The company posted net profit of Rs 33.75 crore versus Rs 34.7 crore in the previous quarter.

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Hexaware Technologies has announced its fourth quarter CY06 results. The company posted net profit of Rs 33.5 crore (Rs 337.5 million) versus Rs 34.7 crore (Rs 347 million) in the previous quarter, down by 3.4%.

Its revenues was up 6.77% to Rs 240.2 crore (Rs 2.4 billion) from Rs 225 crore (Rs 2.25 billion).

For the CY06, the company reported of Rs 124.2 crore (Rs 1.24 billion) versus Rs 62.41 crore (Rs 624.1 million), up by 99.1%.

The revenues increased by 39.9% to Rs 848.21 crore (Rs 8.48 billion) from Rs 606.26 crore (Rs 6.06 billion).

The company added 12 clients in the fourth quarter as against 11 clients in the third quarter and added over USD 40.2 million to Order book.

Q1CY07 Guidance

• Revenue: USD 59-60 M, a QoQ growth of 9.74-11.6%
• Net Profit: USD 7.8-8M, a QoQ growth of 2.77-5.4%

Operating profit Margin

• Q1CY06: 14.1%
• Q2CY06: 12.8%
• Q3CY06: 13.6%
• Q4CY06: 12.67%

Net Profit Margin

• Q1CY06: 14.8%
• Q2CY06: 14.39%
• Q3CY06: 15.42%
• Q4CY06: 13.95%

According to CNBC-TV18 estimates, the company's net profit was expected go up 7.49% to Rs 37.3 crore (Rs 373 million) from Rs 34.7 crore (Rs 347 million) in the previous quarter.

Its revenues was seen up 7.17% to Rs 241.12 crore (Rs 2.41 billion) from Rs 225 crore (Rs 2.25 billion).

For the CY06, the company was likely to post net profit of Rs 127.78 crore (Rs 1.27 billion) versus Rs 62.41 crore (Rs 624.1 million), up 104.74%.

Hexaware revenues might go up 40% to Rs 849.11 crore (Rs 8.49 billion) from Rs 606.26 crore (Rs 6.06 billion).