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Expect Q1 to be soft, Q2 to be strong: Hexaware
Commenting on the company’s plans going forward, PR Chandrasekar, Chief Executive Officer and Vice Chairman of Hexaware Technologies, said they were pursuing some large contracts, which would improve its 2010 performance. "I expect the first quarter of CY10 to be soft and the second quarter to be strong."
Mumbai-based information technology and business process outsourcing service provider Hexaware Technologies announced its fourth quarter results of the calendar year 2009. The company has reported a decline of 12.8% in its net profit of Rs 36 crore, on a quarter-on-quarter basis (QoQ). The revenues too slipped to Rs 252 crore (QoQ).
Commenting on the company's plans going forward, its Chief Executive Officer and Vice Chairman, PR Chandrasekar, said they were pursuing some large contracts, which would improve its 2010 performance. "I expect the first quarter of CY10 to be soft and the second quarter to be strong."
Further, he said though some projects had been delayed, but the company had not lost any clients in any geography or vertical. "There are no major issues with clients. Some of them are yet to finalise their 2010 budgets."
On the company's performance in the last quarter, Chandrasekar said that they had managed to improve margins in 2009. "The fourth quarter of CY09 was subdued because of lower number of working days and forex fluctuations."
