Hexaware Technologies' net profit for the fourth quarter ended December 2011 more than doubled from a year ago.
The company's profit after tax rose to Rs 88.2 crore from Rs 39.6 crore; on a sequential basis net profit rose 36.4 per cent.
The growth was across all fronts, said Mr P.R. Chandrasekar, CEO and Vice-Chairman of the company. Billing rates as well as volumes improved and better management of costs also contributed to profit growth, he said.
Gross revenues, at Rs 431.9 crore, rose 44 per cent year on year and 18 per cent sequentially.
Operating profit margins improved 460 basis points sequentially; 300 bps of this arising from gains from depreciation of the rupee, said Mr Chandrasekar.
The company, however, made some $1 million in losses from hedging. Hexaware, which added 1,800 people in 2011, will be hiring 1,500 persons in 2012; in January alone 225 were hired. It added 15 new clients during the quarter; attrition stood at a little below 14 per cent.
75% dividend
The company declared a final dividend of 75 per cent, taking the total dividend for the year to 100 per cent.
For financial year 2011, net profit rose 148 per cent to Rs 267 crore while revenues increased by 37.5 per cent, to Rs 1,450 crore. The company's stock rose 10.6 per cent on the BSE, to close the trading day at Rs. 97.15.