Hexaware Tech tumbles 7% after reporting December quarter results; Details

Hexaware Technologies share price: Recently listed company Hexaware Technologies' shares tumbled in trade on Friday's session. Hexaware Technologies shares dragged over 7 per cent to hit an intraday low of Rs 759.10. 

  However, at 12:51 PM, Hexaware Tech share price was off the day's low, but still trading lower by 5.7 per cent, at Rs 773.15, on the BSE. In comparison, the BSE Sensex was trading on a muted note with cuts of 37 points, or 0.05 per cent, at 74,302.50.

  Shares of the company were under pressure, after the company reported its first quarterly result, for the quarter ended December 2024, after listing on the bourses.

 

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  Hexaware Technologies' shares had listed on the bourses on February 19, 2025, and surged 8 per cent above their issue price, to close at Rs 764, from its issue price of Rs 708. Moreover, the company's share price has gained 13.43 per cent from its issue price.   READ: Radhakishan Damani-backed Avenue Supermarts adds new stores, shares gain 3%

Hexaware Tech December quarter results

  Meanwhile, the company's profit for the October to December 2024 quarter came in at Rs 320.7 crore, compared to Rs 192.8 crore in the year ago quarter, an increase of 66.3 per cent annually, and rising 7 per cent sequentially from Rs 299.7 crore.

  "CY24 performance underlines the resilience of our business model. We clocked strong revenue growth of 13.7 per cent Y-o-Y for CY24 while expanding margins at the same time and delivering 18.1 per cent operating margin growth Y-o-Y. Our razor-sharp focus on cash flow helped yield OCF to Adjusted Ebitda of 74 per cent plus," said Vikash Jain, CFO, Hexaware, in a press release.

  Hexaware Tech reported revenue from operations at Rs 3,154.4 crore, rising 20.6 per cent year-on-year from Rs 2,616 crore, and increasing only 0.6 per cent sequentially from Rs 3,135.7 crore reported in the July-Septemer quarter.

  The company's profit before tax stood at Rs 417 crore, rising nearly 74 per cent Y-o-Y, and increasing nearly 3 per cent quarter-on-quarter (Q-o-Q).  READ: Reliance Industries stock up nearly 4% on Macquarie, Emkay upgrade

  Moreover, the company's growth in revenue in constant currency terms was at 18.8 per cent on an annual basis, and 0.2 per cent sequentially. Hexaware's earnings before interest, tax, depreciation, and amortisation (Ebitda) margin expanded by 30 bps to 16.3 per cent from the previous quarter.

  The company further reported the addition of one customer in the $100 millon plus category, and four customers in the $20 million category. It onboarded 15 customers in the category in calendar year 2024, compared to 11 customers added in the previous year.

  The company's headcount stood at 32,309, for CY24, an addition of 4,017 since Q4CY23.