Hexaware reports robust performance for the second quarter

Hexaware Technologies, a leading global provider of IT, BPO and Consulting services has just reported robust performance for the second quarter of the calendar year ended June 30, 2015.

The total revenue rose by 8.24 per cent at Rs 772 crore as compared to Rs 713 crore on quarterly basis. In Q2, 2015 the dollar revenue stood at USD 12.13 crore, up by 5.6 per cent QoQ. Constant currency revenue at USD 12.12 crore up by 5.5 per cent QoQ.

The Application Development & Maintenance (ADM) segment revenue rose by 6.4 per cent, Testing / QATS (Quality Assurance and Testing Services) segment more by 6.3 per cent, Business Intelligence & Analytics segment more by 3.6 per cent, The Business Intelligence & Analytics segment more by 14.9 per cent, Infrastructure Management Services (IMS) segment rose by 17.4 per cent but Enterprise Solutions segment decreased by 2.9 per cent Q-o-Q.

The EBITDA increased by 4.11 per cent to Rs 132 crore from Rs 127 crore. The EBITDA margin contracted by 68 basis points to 17.14 per cent. The Net Profit of the company stood at Rs 99 crore in Q2 compared to Rs 83 crore in Q1, rising by 18.6 per cent.

“This Quarter witnessed significant revenue growth with Europe leading among geographies with 8 per cent QoQ growth. Hexaware focused customer mining strategies and investments in digital technologies have also started yielding results.” remarked Atul Nishar, Chairman, Hexaware Technologies Limited.

During the Quarter, Cash & Cash equivalents at the end of June 2015 stood at Rs 402 crores. The Company added 9 new clients in Q2 2015. The total employee headcount stood at 11,009 at the end of Q2 2015, up 909 QoQ. Hexaware added 399 fresh graduate engineers in Q2 2015. Utilization stood at 72.1 per cent (including trainees) in the quarter. Attrition at the end of June 2015 was 17.1 per cent.