Hexaware Tech PAT up 1.1% to 99.9 cr in June quarter

Total income up 12% to Rs 871 cr; growth primarily led by BPS and IMS

Hexaware Technologies Ltd on Thursday posted a consolidated profit after tax (PAT) of Rs 99.9 crore for the quarter ended June 30, 2016, up 1.1 per cent, as compared to Rs 98.8 crore in corresponding quarter last year.

Total income rose 12.4 per cent to Rs 870.62 crore for the quarter ended June 30, 2016, as against the revenue of Rs 774.26 crore for the quarter ended June 30, 2015.

Sequentially, PAT grew 18.8 per cent, while the revenues grew 6 per cent.

The growth was primarily led by Business Process Services (BPS) and Infrastructure Management Services (IMS).

"This quarter witnessed significant revenue growth led by Business Process Services (BPS) and Infrastructure Management Services (IMS), among service lines with 19.6 per cent and 14.2 per cent QoQ growth respectively. The combined approach of 'right size' and automation in our offerings have resulted in strengthening businesses of our customers and differentiating us in the marketplace," said Atul Nishar, Chairman, Hexaware Technologies Limited.

 

BPS and IMS grew by 33.7 percent and 24.1 percent over the last year respectively.

In terms of geography, the company saw growth coming from Europe, which grew 10.8 per cent in the June quarter. Among verticals, Manufacturing and Consumer (M&C) led with sequential growth of 8.8 per cent the reporting quarter, followed by Banking and Financial Services (BFS), which showed a growth of 8.6 per cent QoQ and 16.3% YoY.

During the quarter, the company said, it saw a total contract value (TCV) booking of $ 20 million from new customers.

According to R Srikrishna, CEO & Executive Director, Hexaware Technologies Limited, the company saw broad based growth in the June quarter.

"The growth is powered by our Shrink IT, Grow Digital strategy. The execution of this strategy is still in early days, but the results are encouraging," said Srikrishna.