Hexaware Tech jumps after solid Q2 results

Hexaware Technologies jumped 6.24% to Rs 390 at 9:54 IST on BSE after consolidated net profit rose 19.07% to Rs 164.89 crore on a 3.5% increase in net sales to Rs 1,308.34 crore in Q2 June 2019 compared with Q1 March 2019.

The result was announced after trading hours yesterday, 8 August 2019.

Meanwhile, S&P BSE Sensex was up 249.07 points or 0.67% at 37,576.43.

On BSE, 1.43 lakh shares were traded in Hexaware Technologies counter, compared to a 2-week average of 48,000 shares. The stock hit an intraday high of Rs 398.95 and an intraday low of Rs 374.05. It hit a 52-week high of Rs 501.60 on 21 August 2018 and a 52-week low of Rs 294.80 on 26 November 2018.

Consolidated EBITDA grew 12.3% to Rs 211.80 crore in Q2 June 2019 as against Q1 March 2019. Hexaware Technologies' EBIT also improved 10% to Rs 191.30 crore in Q2 June 2019 over Q1 March 2019. The company has five new clients signed in Q2 June 2019 with TCV worth $36 million. Its cash and cash equivalents stood at Rs 173 crore at the end of Q2 June 2019.

Hexaware Technologies is a fast growing next-generation provider of IT, BPO and consulting services.

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