Hexaware Q1 profit marginally up at Rs 84.18 cr

Mid-sized IT services firm Hexaware Technologies posted marginal rise in consolidated net profit at Rs 84.2 crore for January-March 2016.
The company reported a net profit of Rs 83.3 crore in the same period a year ago.
Revenues during reported quarter increased by 15 per cent to Rs 820.2 crore from Rs 713.4 crore in the same period a year ago.
Hexaware follows January-December fiscal.
Commenting on the performance, Hexaware CEO and Executive Director R Srikrishna said: "While we had a challenging quarter for revenue and profitability, bookings from new customers continued to be strong driven by automation and digital transformation".

He added that the company has been investing significantly in creating a platform centric approach to deliver IT outsourcing (ITO) services for both application and infrastructure management services.

Hexaware also announced the launch of 'RAISE IT', a platform that it expects will fundamentally disrupt how ITO services are currently delivered.
The Board of Directors declared an interim dividend of Rs 2.50 apiece (125 per cent) on equity shares of Rs 2 each.
In US dollars, the firm's net profit declined 6.3 per cent at USD 12.6 million in January-March 2016, while revenue grew 5.9 per cent to USD 121.7 million.

It saw a total contract value booking of USD 36 million from new customers. Hexaware signed three new clients in the first quarter of 2016.
Its total headcount stood at 11,599 at the end of March 2016, up 224 from the preceding quarter.
Cash and cash equivalents at the end of March 2016 stood at Rs 308 crore.
Asia Pacific led the geographic growth, whereas banking and financial services led the growth among verticals in the first quarter of 2016.
The company has roped in former India ambassador to the US, Meera Shankar as an independent non-executive director.
The numbers were announced after the market close. The shares closed at Rs 228.25 apiece, down by 1.76 per cent over yesterday's close on the BSE.