Hexaware Technologies dips post Q3 results

The board has declared payment of interim dividend @ Rs 1.20 per share (60%) on equity shares of Rs 2/- each.

Hexaware Technologies has dipped over 4% to Rs 107 in opening trades after reporting 6% quarter-on-quarter (qoq) drop in its consolidated net profit at Rs 84 crore for the third quarter ended September 2012. Income from operations grew single digit by 1.6% at Rs 508 crore on sequential basis.

The information technology company said that “Revenue for Q4 2012 is likely to be in the range of $ 94.7 million - $ 96.5 million; a Q-o-Q sequential revenue growth in $ terms of 2% - 4%. This, however, does not provide for a potential impact of 0.5% on account of Hurricane Sandy, it added. Meanwhile, the board has declared payment of interim dividend at the rate of Rs 1.20 per share (60%) on equity shares of Rs 2 each.

The stock opened at Rs 110 and hit a high of Rs 113 on the BSE. A combined 90,000 shares have changed hands on the counter in opening deals on both the exchanges.