Hexaware Technologies Q2 net soars 23.6% to Rs 98 cr QoQ

Hexaware Technologies beat analyst estimates with its second quarter (April-June) consolidated net profit growing 23.6 percent quarter-on-quarter to Rs 98 crore. Analysts on an average had expected it to report a bottomline of Rs 87.7 crore.

Consolidated rupee revenue grew by 5.7 percent Q-o-Q to Rs 536.6 crore and dollar revenue rose marginally to USD 94.8 million from USD 94 million. Both were in-line with expectations of Rs 534.4 crore and USD 94.7 million.

Consolidated earnings before interest, tax, depreciation and amortisation (EBITDA) jumped higher-than-expected 29.9 percent Q-o-Q to Rs 127 crore while EBITDA margin soared better-than-expected 444 basis points to 23.7 percent in April-June quarter as against 19.26 percent in January-March quarter.

Analysts were expecting EBITDA at Rs 113.5 crore and margin at 21.23 percent for the quarter.

Hexaware sees third quarter (July-September) revenue in the range of USD 98.1-100 million.

Software services exporter added 14 new clients in second quarter and the attrition rate was 11 percent.

Also Read - TCS Q1 net up 16% YoY to Rs 3831 cr; beats forecast

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