Forex loss impacted the fourth quarter and annual results of mid-cap IT services and solutions firm Hexaware.
Net profit for the fourth quarter ended December 2008 at Rs 17.1 crore was down 21.7 per cent from Rs 21.8 crore in the corresponding quarter last year. The net profit was impacted due to a forex loss of Rs 28.8 crore ($5.8 million).
Revenue at Rs 305.9 crore was up 18 per cent compared with Rs 259.2 crore in the previous comparable quarter.
Sequentially, net profit was up 48.4 per cent from Rs 11.5 crore (in the third quarter) —and revenue was up 1.6 per cent from Rs 294.6 crore.
For the full year ended December 2008, net profit at Rs 59 crore was down 46.4 per cent from Rs 110.1 crore.
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