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Hexaware Technologies saw a 24 per cent year-on-year (y-o-y) increase in its fourth quarter net profit that touched Rs 45.1 crore. The company saw a 19 per cent y-o-y increase in its topline to Rs 299.6 crore.
The company's pricing power (EBITDA), however, took a 24 per cent hit y-o-y to clock Rs 34.5 crore. This was due to a 37 per cent y-o-y increase in its direct costs and a nine per cent increase in selling and administration related expenses. EBITDA margin fell 6.4 percentage points from the fourth-quarter of CY09 to end fourth-quarter of CY10 at 11.5 per cent.
Hexaware shareholders have approved a 1:1 bonus issue of shares with a record date of February 25. Its board has recommended a 70 per cent dividend payout to all shareholders.
Hexaware added 11 new clients in the fourth quarter of CY10 and 45 for the whole year. It added 1,374 people to end the year with a headcount of 6511 worldwide. Out of this, 544 were fresh graduate engineers. Going forward, it plans to recruit people in excess of 1,500 for CY11 including 700 freshers.
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