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Last Updated : Feb 11, 2020 06:16 PM IST | Source: PTI

Hexaware October-December net profit up 36% to Rs 167.8cr

Hexaware's earnings per share (EPS) was at Rs 5.62 at the end of fourth quarter, while it was at Rs 21.52 for the full fiscal.

 
 
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IT firm Hexaware Technologies on Tuesday said its net profit increased 35.9 per cent to Rs 167.8 crore in December 2019 quarter from Rs 123.4 crore in the year-ago period. Its revenue increased 22.1 per cent to Rs 1,528.8 crore in the quarter under review as compared with Rs 1,252.4 crore in the year-ago period, Hexaware Technologies said in a regulatory filing.

The company said it expects its FY2020 revenue growth to be in the range of 15-17 per cent and "majority of growth will happen from the second quarter (calendar impact, deal ramp up)".

The company follows January-December as its fiscal year.

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Hexaware's earnings per share (EPS) was at Rs 5.62 at the end of fourth quarter, while it was at Rs 21.52 for the full fiscal.

For the full year, net profit was up 9.9 per cent to Rs 641.3 crore, while revenue rose 20.1 per cent to Rs 5,582.5 crore from FY2018.

"Hexaware has seen sustained revenue growth with CAGR of 13.1 per cent over the last 5 years. This is an acknowledgement of our excellent client relationships coupled with strong execution capabilities," Hexaware Technologies Chairman Atul Nishar said.

Hexaware CFO Vikash Kumar Jain said the company continued its "stellar performance" and delivered another year of strong double-digit revenue growth.

"Our continued focus on operational efficiencies helped us maintain our margins. Our results continue to validate our growth, profitability and investment strategies," he added.

In dollar terms, net profit grew 37 per cent to USD 23.5 million, while revenue increased 21.7 per cent to USD 214.3 million in the December 2019 quarter from the year-ago period.

Net profit was higher by 7.4 per cent at USD 91 million, while revenue grew 17.1 per cent to USD 793 million in FY2019 from the previous fiscal.

"We had market-leading performance from all but one vertical during the year. Consequently, we exited a seasonally weak Q4 with solid growth and expect to continue that into 2020 with an anticipated revenue growth in excess of 15 per cent for the full year," Hexaware Technologies CEO and Executive Director R Srikrishna said.

Headcount stood at 19,999 at the end of December 2019 quarter, up 3,794 in FY19. Attrition at the end of December 2019 quarter reduced to 15.8 per cent.

The company's Board of Directors has proposed final dividend of Rs 2.5 per share, subject to approval of the shareholders at the Annual General Meeting.

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First Published on Feb 11, 2020 06:10 pm
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