Mid-sized IT services firm Hexaware Technologies saw its consolidated net profit for the June 2016 quarter rise 1.1 percent to Rs 100 crore.
The company's net profit stood at Rs 98.9 crore in the same quarter last year.
Its revenues increased 12.6 percent to Rs 869.7 crore in the reported quarter from Rs 772.2 crore in the corresponding quarter last fiscal.
"The growth has come as a result of the journey of change that we embarked on a few quarters back. We saw a strong total contract value (TCV) booking of USD 20 million from new customers this quarter and we believe, we will have a robust H2," Hexaware Technologies CEO and Executive Director R Srikrishna told PTI.
The execution of this strategy is still in early days, but the results are encouraging, he added.
Europe led the geographic growth at 10.8 percent in the said quarter, while manufacturing and consumer (M&C) led with quarter-on-quarter growth of 8.8 percent among verticals.
Banking and Financial Services (BFS) showed a healthy growth of 16.3 percent year-on-year.
BFS accounted for 40 percent of the quarter's revenue, followed by manufacturing, consumer and others at 28.4 percent, healthcare and insurance at 17.1 percent and travel and transportation at 14.5 percent.
Business Process Services (BPS) and Infrastructure Management Services (IMS) delivered strong y-o-y growth of 33.7 percent and 24.1 percent, respectively.
On impact of the UK leaving the European Union, Srikrishna said the initial impact will be in currency.
"Pound is just 5 percent of our revenues and so, we don't see much impact," he added.
Americas contributed 80.9 percent of the revenues, while Europe and Asia Pacific accounted for 12.5 percent and 6.6 percent, respectively.
At the end of June 2016, the company's headcount stood at 11,875 with an addition of 276 people during the three-month period. The attrition rate stood at 16.6 percent.
Cash and cash equivalents at the end of June quarter were at Rs 318 crore. The Board of Directors has declared a second interim dividend of Rs 1 per share (50 percent) on equity shares of Rs 2 each.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
