Hexaware Q2 net zooms 380%, ups guidance

The company had proactively guarded its shareholder interest by taking forward cover for total dollar receipts into India for the entire year. From July '04 to December '04, the company is covered at an average rate of 45.57 to the dollar. At the current exchange rate, Hexaware expects minimal impact over the next two quarters, the release said.

The company also announced the launch of a wholly-owned business process outsourcing (BPO) subsidiary - Caliber Point Business Solutions.

According to a release issued to the BSE today, Hexaware expects to invest Rs 5 crore in the company.

"Caliber Point currently focuses on the global healthcare industry providing the complete spectrum of claims processing services to the payer segment of the vertical. It has recently won two US customers with multi-year deals exceeding $10 million to manage over 25 million claims per annum. Caliber Point is also exploring opportunities in the HR BPO space," the release added.

Meanwhile, Hexaware board has also cleared a proposal to hike the FII investment limit in the company from the current level of 40% to 74%.

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