| Revenue for the quarter was at Rs 254.6 crore, up 13.2 per cent, compared with Rs 224.96 crore in the same quarter of the previous financial year. |
| Focusframe, which the company had acquired in 2006, lost one client with exposure to the sub-prime mortgage crisis. That had an impact of $1 million to the company's revenues. |
| Sequentially (as compared to last quarter), net profit was up 3 per cent from Rs 2.61 crore. However, its revenue registered a dip of 2.7 per cent from Rs 261.6 crore in the quarter ended July 2007. |
| The company also announced that the board of directors will meet shortly to review the buy back of the company's equity shares. |
| However, unlike the last quarter, the company did provide a guidance. It expects revenue for the fourth quarter to be the same as in the third quarter. |
| Atul Nishar, executive chairman, Hexaware Technologies, said, "Though quarterly revenues have reduced marginally, the outlook for the next year looks positive. Strong momentum in signing of new deals and an increased hiring represents excellent visibility for next year's growth. Of the $100 million new order book, almost $55 million will be accrued in 2008." |
| Hexaware acquired 15 new clients during the quarter. Of these, 11 were from North America, two from Europe, and two from APAC region. The number of active clients increased to 166. |
| The number of million dollar clients grew from 51 to 54 in this quarter. While five were in the $5-10 million range and a further four clients billed more than $10 million each (all on a trailing 12 month basis). |
| Rusi Brij, vice-chairman and CEO, said, "In order to maximise client mining opportunities, the company is currently trimming its client roster by 20 clients to defocus from marginal billing clients. Though this has marginal impact on current and Q4 revenues, the total value of the current pipeline exceeding $150 million is likely to get decided by early 2008." |
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