Hexaware Technologies is trading higher by 3% at Rs 85.30 in early morning deals on BSE after reporting a 20% quarter-on-quarter (q-o-q) jump in its consolidated net profit at Rs 79.28 crore for the quarter ended March due to lower operating expenses and foreign exchange gain of Rs 2.25 crore.
“Income from operations however, grew marginally by 1.1% at Rs 508 crore, while total expenditure declined 1.9% at Rs 419 crore on sequential basis,” Hexaware Technologies said in a statement. The IT consulting and software company had foreign exchange loss of Rs 4.52 crore in December quarter.
“The q-o-q improvement in volume, utilization, onsite-offshore ratio enabled robust improvement in gross margin and operating Margin. We expect margins to expand further in the coming quarter”, said Atul Nishar, Chairman, Hexaware Technologies.
The company’s EBITDA or operating margin for Q1 2013 improved 240 bps at 19.3% on q-o-q basis. Meanwhile, the company has guided revenue growth of 0%-2% in $ terms for Q2 2013 on sequential basis. Revenue for Q2 2013 is likely to be in the range of $ 94.0 million - $ 96.0 million, the company said.
The stock opened at Rs 84.75 and has seen a combined around 120,000 shares changing hands on the counter in opening deals on NSE and BSE.
“Income from operations however, grew marginally by 1.1% at Rs 508 crore, while total expenditure declined 1.9% at Rs 419 crore on sequential basis,” Hexaware Technologies said in a statement. The IT consulting and software company had foreign exchange loss of Rs 4.52 crore in December quarter.
“The q-o-q improvement in volume, utilization, onsite-offshore ratio enabled robust improvement in gross margin and operating Margin. We expect margins to expand further in the coming quarter”, said Atul Nishar, Chairman, Hexaware Technologies.
The company’s EBITDA or operating margin for Q1 2013 improved 240 bps at 19.3% on q-o-q basis. Meanwhile, the company has guided revenue growth of 0%-2% in $ terms for Q2 2013 on sequential basis. Revenue for Q2 2013 is likely to be in the range of $ 94.0 million - $ 96.0 million, the company said.
The stock opened at Rs 84.75 and has seen a combined around 120,000 shares changing hands on the counter in opening deals on NSE and BSE.
