 "Hexaware net rises 29.2% to Rs 98.9 crore")
The profit after tax, however. was lower than 33.8% rise estimated by a panel of analysts polled by Bloomberg. Sequentially, the net income was 18.7% higher than Rs 83.35 crore net income reported previous quarter.
During the period, its revenue rose to Rs 772 crore, up 26.5% from Rs 610.38 crore last year same period and 8.2% rise from Rs 713.42 crore earned in its first quarter in January-March period.
The company follows January-December as its financial year.
In dollar terms, its revenue rose by 5.6% from first quarter to $121.3 million. In the same period, gross margin stood at 36%, a rise of 30 basis point from Jan-Mar period. One basis point is one hundredth of a%.
During its second quarter, Hexaware bagged nine clients including three in Infrastructure management Services (IMS) and two in enterprise solution. Going forward, the company will offer multiple services to existing customers after studying client data.
"Studying data opens up a huge opportunity for us to provide digital services. We will focus on high margin clients and multi-year contracts to grow," said R Srikrishna, chief executive officer of Hexaware after the results announcements.
Attrition during the three-month period rose by 17.1%, up from 16.6% seen in the previous quarter. To arrest attrition, it announced performance based employee stock ownership plan (ESOP) scheme for key leadership costing Rs 8 crore, up from Rs 1.2 crore announced in previous quarter.
Post the results announcements, the board of directors of Hexaware declared a second interim dividend of Rs 2 per share on face value of Rs 2 for each share. This would result in a cash outflow of Rs 72.55 crores for dividend payment including tax. Earlier this year, the board has also announced Rs 2 dividend on each share.