Q1CY09 Revenue at Rs 266.95 crore was up by 1% as againts Rs 264.36 crore for the same quarter last year.
On a sequential basis (quarter ended December 31, 2007) the company had reported a net loss of Rs 81 crore. Revenue on a q-o-q basis was up 3% from Rs 259.17 crore.
The company reported a mark to market (MTM) loss of Rs 5.6 crore in view of the changed accounting policy for the quarter.
Operating margins excluding MTM loss were 9.6% as against 4.6% last quarter. The company currently has forward cover of $196 million at an average rate of Rs 40.38/$ spread over the next ten quarters.
"While the US slowdown had some impact on the order book addition, the current pipeline continues to grow and we are actively chasing 4 deals in the $25-100 milliom range each. Our investments in a larger sales team with better focused go-to-market strategies have started paying dividends," said Rusi Brij, Vice Chairman and CEO, Hexaware Technologies.
The company in its guidance has said that Q2CY08 revenue is likely to be in the range of $71 million
