Consulting firm Hexaware Technologies today posted a flat growth in the third quarter results as its net profit grew by 2.4 per cent to Rs 42 crore as opposed to Rs 41 crore in the same quarter last year. The company's revenues grew by seven per cent to Rs 281 crore as compared to the corresponding quarter last year.
On a quarter-on-quarter basis, the company's revenue grew by 12 per cent and its net profir jumped by three times. "During the quarter while operating margins (EBIT) improved by 200 basis points; the margins were suppressed to an extent of 220 basis points on accoyunt of knowledge transfer phase of the $110 million deal signed in the second quarter of 2010. We expect to attain double digit operating margins for year 2011," said Aul Nishar, Chairman, Hexaware Technologies.
The company also said that they have added thirteen new clients during the quarter and had 167 active clients and one-third of them are Fortune 500 clients. Its global headcount also increased to 6,308, and showed a yearly increase by 1,171.
P R Chandrasekar, the CEO and VC of the company said that they there is a material increase in confidence on the global demand pick-up. The top ten clients of the company grew 15 per cent sequentially. "This healthy achievement validates our focused efforts over the past few quarters on stregthening competencies," he said.