Hexaware Technologies dips on revises Q4 revenue outlook

The company expects the revenues for December 31, 2012 quarter to be $ 92 million against $ 94.7 million ? $ 96.5 million expected earlier.

Heaxware Technologies is trading lower by 3% at Rs 104, extending its previous day’s 3% fall, after the company revised its revenue guidance downwards for the current quarter and for the year ending December 31, 2012.

“Due to certain unforeseen changes to a project plan in a large engagement for a customer, Hexaware now expects the revenues for December 31, 2012 (Q4 2012) quarter to be $ 92 million,” Heaxware Technologies said in a statement.

While reporting the earnings for quarter ending September 30, 2012, Hexaware, a leading global provider of IT, BPO and Consulting services had issued a revenue outlook of $ 94.7 million – $ 96.5 million for Q4 2012.

“The revised revenue guidance also includes impact of $ 450k on account of Hurricane Sandy on the Eastern Coast of the United States of America,” it added.

The company would have a material adverse impact on the profitability margin metrics this quarter on account of the revision in the revenue outlook and due to continued investments made by Hexaware keeping the medium term horizon in mind, the company said.

The stock opened at Rs 107 and hit a low of Rs 102 on the BSE. A combined around 250,000 shares have changed hands on the counter in opening deals on both the exchanges.