Hexaware Tech falls 10% on profit booking post March quarter results

The stock dipped 10% to Rs 408 on the BSE as the analysts suprise for the company not upping its revenue guidance comes and raises questions on continued growth momentum.

Hexware Technologies has dipped 10% to Rs 408 on the BSE in early morning trade despite strong March quarter results. The numbers came in as a suprise for analysts as the company did not raise its revenue guidance, which put a question on whether the growth momentum seen till now will continue going ahead.

The company has reported better than expected 3.3% quarter on quarter (qoq) revenue growth in constant currency (CC) terms in March 2018 quarter (Q1CY18). Net profit of the company during the quarter grew 10.9% at Rs 1.34 billion over the previous quarter. Revenue was up 4.4%