Hexaware Q4 profit up 3% at Rs 138 crore

Pune: Mid-sized IT firm Hexaware Technologies reported a net profit Rs 138.5 crore for the quarter ended 31st March, 2019, up 3.1% over the corresponding quarter last year. Revenues for the quarter grew 20% at Rs 1,264crore. In dollar terms, profit was at $19.8 million, down 4.6% while revenues were up 10.9% at $ 180 million. The company declared an interim dividend of 125% (Rs2.50) for the quarter and reported four new client wins with a TCV of $36 million.

“We delivered solid growth in a seasonally weak quarter for us. It sets us up nicely to have a robust growth for 2019,” said R Srikrishna, CEO, Hexaware Technologies.

The total headcount at the end of the quarter was at 16,509, up 1,890 YoY, up 304 QoQ. Utilization stood at 79.0% (including trainees) in the quarter, while attrition was at 18.2%.


The APAC business showed 15.2% QoQ growth during the quarter. Manufacturing & Consumer (M&C) was the fastest growing vertical with 15.6% QoQ and 26.7% YoY growth in Q1 2019. Professional Services (PS) grew at 29.8% YoY. In Q1 2019, Business Process Services (BPS) led the service line growth with 7.0% QoQ and 22.9% YoY growth, while Infrastructure Management Services (IMS) clocked 50.5% YoY growth. “Hexaware delivered yet another quarter of double-digit growth of 10.9% YoY. This is a testimony of our commitment to deliver industry leading growth." said Atul Nishar, Chairman, Hexaware Technologies.