Hexaware Q3 net profit up 24.4 pc at Rs 142.3 cr

Mid-sized IT services firm Hexaware Technologies today posted 24.4 per cent rise in consolidated net profit at Rs 142.3 crore for the quarter ended September 30, 2017.
This is against a net profit of Rs 114.4 crore in the same period a year ago, Hexaware said in a statement.
Its revenue rose 9.8 per cent to Rs 993.1 crore from Rs 904.1 crore in the same period a year ago.
Hexaware follows January-December fiscal.
In dollar terms, Hexaware saw its net profit increasing 28.8 per cent to USD 22 million, while revenue was higher by 13.9 per cent to USD 154 million in the September 2017 quarter.

Hexaware added five new clients with a total contract value of USD 43 million.

Its total headcount stood at 13,488 with the addition of 390 people from the June 2017 quarter. The attrition rate was at 13.7 per cent.
Its cash and cash equivalents stood at USD 70.73 million or Rs 461.7 crore at the end of the reported quarter.
The company has declared an interim dividend of Re 1 for the said quarter.
"During the first three quarters of this year, Hexaware has grown 16.8 per cent year-on-year as compared to the same period last year. This testifies the success of the Shrink IT Grow Digital strategy of the company," Hexaware Technologies Chairman Atul Nishar said.

R Srikrishna, CEO and Executive Director at Hexaware Technologies, said the company is "well on track to meet the upper end of revenue guidance and beat the upper end of guidance on profitability".
In the said quarter, Healthcare and Insurance segment saw 17.8 per cent y-o-y growth, while banking and financial services (BFS) witnessed 18.7 per cent y-o-y growth.
Asia Pacific led geographic growth with 68.3 per cent y- o-y growth.