Hexaware Technologies Q4 net up 9.9%

Hexaware Technologies today posted a 9.90 per cent jump in net profit for the quarter ended December 31, 2010, to Rs 39.60 crore.

The IT and BPO services provider had reported a net profit of Rs 36.03 crore for the fourth quarter last year, Hexaware Technologies — which follows a January-December financial year for accounting purposes — said in a filing to the Bombay Stock Exchange (BSE).

Income from operations rose to Rs 299.62 crore in the October-December quarter from Rs 252.04 crore in the same period a year ago, it said.

Commenting on the numbers, Hexaware Technologies Chairman, Mr Atul Nishar, said, “On the back of the strong revenue growth delivered in the last three quarters, we expect 2011 revenues to be a minimum of $290 million, an annual revenue growth of at least 25 per cent compared with 2010. We remain confident of attaining double-digit operating margins for the year 2011.”

“Through the year 2010, we have continued to make investments in strengthening our vertical capabilities and enhancing our technology wherewithal. With this, we have established the perfect platform to deliver above-industry performance in 2011. To meet our growth plan, we intend to add 1,500 employees during the year ahead,” Hexaware Technologies CEO and Vice-Chairman, Mr P.R. Chandrasekar, said.

Meanwhile, shares of the company spurted by 8.52 per cent in early trade on BSE to a high of Rs 116.50.