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Hexaware Q4 net up 15 pc; to pay 30 pc final

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MUMBAI:

Hexaware Technologies Ltd, global IT and BPO services provider, reported a 15.4 per cent increase in its fourth quarter net profit at Rs 24.75 crore compared to Rs 21.46 crore in the corresponding year-ago period.

The company said that during the quarter, the India Services Centre (ISC) was transitioned to Oracle. This helped the growth in profitability.

Revenue from operations during the quarter was Rs 174 crore, up by 10.8 per cent from the year-ago period.

During the quarter, Hexaware bagged $40 million worth business orders, higher than the previous three quarters. It reported a 43.6-per cent increase in its full year profit after tax at Rs 91.49 crore against Rs 63.74 crore in 2004.

In dollar terms, Hexaware achieved revenues of $153.77 million and net profit of $20.72 million during 2005 against the guidance of $153 million and net profit of $19.5 million.

The board also recommended a 30 per cent final dividend. An interim dividend of 30 per cent was paid earlier for the year 2005.

During the year, revenue from operations was Rs 678.66 crore, up by 24 per cent. The company added 39 new clients during the year and has 126 active clients; 30 `million dollar' clients were billed against 25 clients in 2004.

The company commenced work on Phase I of its campus in Chennai, which is expected to accommodate 3,000 software professionals. It will be operational by first quarter of 2007, the company said in a news release quoting Mr Atul Nishar, Executive Chairman, Hexaware Technologies Ltd.

SpecSoft Consulting Inc, a wholly-owned subsidiary was merged with Hexaware Technologies Inc on January 3, 2006, to effectively nurture its capabilities under the Hexaware brand. The merger will make operations more efficient.

(This article was published in the Business Line print edition dated February 3, 2006)
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