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Stock Report
Hexaware posts Q3 earnings exceeding guidance for the third consecutive quarter
Posted On : 2006-10-19 01:35:08( TIMEZONE : IST )
Hexaware Technologies Ltd, a leading provider of IT & BPO services globally, today announced financial results for the third quarter ending September 30, 2006, with both revenue and net profit exceeding the company’s guidance.
Revenue from Operations was Rs. 2,249.69 ($48.56 mn) - and surpassing the revenue guidance of $ 48 mn - a sequential growth of 8.7%. Net Profit rose to Rs. 346.84 mn ($7.49 mn) - against guidance of $ 7.2 mn - a growth of 16.5% over Q2’ 06.
The Company has posted a profit after tax of Rs 341.164 million for the quarter ended September 30, 2006 where as the same was at Rs 220.586 million for the quarter ended September 30, 2005. Total Income is Rs 1275.249 million for the quarter ended September 30, 2006 where as the same was at Rs 996.824 million for the quarter ended September 30, 2005.
The Consolidated results are as follows:
The Group has posted a profit after tax from operations of Rs 346.844 million for the quarter ended September 30, 2006 where as the same was at Rs 240.625 million for the quarter ended September 30, 2005. Total Income is Rs 2332.691 million for the quarter ended September 30, 2006 where as the same was at Rs 1772.482 million for the quarter ended September 30, 2005.
The figures for the quarter ended September 30, 2005 included figures pertaining to the operations of the India Service centre at Bangalore, which was transferred to a party on November 02, 2005, in accordance with the terms of the BOT agreement. Accordingly, the figures for the Three months ended September 30, 2006 are not strictly comparable with the figures for the Three months ended September 30, 2005.
"For the third consecutive quarter, we have exceeded guidance, supported by sharp increase in operating metrics. We now have 40 customers billing over $ 1 mn each. The pricing environment is stable with some new clients coming at higher bill rates," commented Atul Nishar, Executive Chairman, of the Company.
