Hexaware Q1 2013 beats expectations: Stock up

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Hexaware Q1 2013 beats expectations: Stock up
Hexaware Technologies: Quotes, News
BSE 201.00BSE Quote1.6 (0.80%)
NSE 201.30NSE Quote1.8 (0.89%)
Hexaware Technologies Limited, a leading global provider of IT, BPO and Consulting services has reported better than expected Q1 2013, beating market expectations.

Hexaware Q1 2013 revenue in line with the quarterly guidance; grew to $ 94 mn up 1.8% sequentially in $ terms (up 1.1% in Rs terms to Rs 508 Crores)

The company's Q1 2013 Profit after Tax (PAT) rose to Rs 79.3 Crore; up 19.8% Q-o-Q. EBITDA margins for Q1 2013 at 19.3%; up 240 bps Q-o-Q

"The Q-o-Q improvement in volume, utilization, onsite-offshore ratio enabled robust improvement in Gross Margin and Operating Margin. We expect margins to expand further in the coming quarter", said Atul Nishar, Chairman, Hexaware Technologies Limited.

The Board of Directors declared a first interim dividend of Rs1.20 per share (60%) on equity
shares of Rs 2.00 each.

Global Headcount stood at 8,670 at the end of March 2013. Attrition for the quarter ended March 2013 was at 9.9%; down from 11% for the same period a year ago.

Shares of the company was seen trading at Rs 84.80, higher by 2.42% on BSE at 9.30 am IST.

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