Hexaware Q1 net profit declines 1.4 pc to Rs 151.4 cr

IT firm Hexaware Technologies on Thursday said its net profit declined by 1.4 per cent to Rs 151.4 crore for the first quarter ended June 30.

This is against a net profit of Rs 153.6 crore in the April-June 2018 period, Hexaware Technologies said in a regulatory filing.

The company's revenue increased by 15.1 per cent to Rs 1,308.3 crore in the quarter under review as compared to Rs 1,136.7 crore in the year-ago period.

"Hexaware's differentiated strategy has helped us deliver yet another strong quarter with revenue growth of 12 per cent y-o-y and 13 per cent y-o-y in constant currency," Hexaware Technologies Chairman Atul Nishar said.

R Srikrishna, CEO and Executive Director at Hexaware Technologies, said the company has delivered a substantial and sustainable margin improvement, "especially when the industry is challenged for margins".

In dollar terms, the net profit declined by 4 per cent to USD 21.8 million, while revenue grew 12 per cent to USD 188.5 million in the said quarter on a year-on-year basis.

The Board has declared a second interim dividend of Rs 1.50 per share for the June 2019 quarter.

During the June quarter, the company added five new clients with a total contract value of USD 36 million.

It added 1,785 people in the said quarter, taking the company's total headcount to 18,294 people. Attrition was at 18.2 per cent.