Hexaware December quarter profit tanks on poor margins

MUMBAI: Hexaware Technologies, an IT services firm, posted a profit of $18.8 million for the quarter ended December, down 14.7 per cent on quarter-on-quarter basis, hurt by a sharp fall in margins.

EBITDA margins stood at 16.8 per cent versus 18.3 per cent in the sequential quarter. Revenue grew 1.3 per cent on constant currency basis to $156 million.

“We have had a spectacular growth of 15.6 per cent in 2017, in an otherwise challenging year for the industry. Going forward, investments in automation, cloud technologies and customer experience transformation continue to be the focus of the Company.” stated Atul Nishar, Chairman at Hexaware.


For Hexaware, the financial year ends on December 31.

Shares of the company closed at Rs 355.25 apiece on Wednesday on BSE. The stock has gained 6 per cent in value in the last 3 months.