IT and BPO firm Hexaware Technologies today said its consolidated net profit for the financial year ended December 31, 2008, grew eight-fold to Rs 58.98 crore over the corresponding period a year ago.

The company had a consolidated net profit of Rs 7.22 crore in the financial year 2007-08, Hexaware Technologies said in a filing to the Bombay Stock Exchange.

However, for the fourth quarter ended December 31, 2008, the IT firm posted a net profit of Rs 17.10 crore, while it had a net loss of Rs 81 crore in the corresponding period last year.

"I am confident that we would be in a position to get back on the healthy growth path once the global conditions improve," Hexaware Technologies Executive Chairman Atul Nishar said.

Meanwhile, the company today announced a final dividend of 25 per cent or Rs 0.50 per share for FY'08.

Shares of Hexaware Tech today closed at Rs 29.20, down 4.58 per cent on the BSE.

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