Hexaware Tech Q4 net up; shares soars

Stocks

oi-Sneha

By Sneha B K

Published: Thursday, February 2, 2012, 17:35 [IST]

Hexaware Technologies, software service provider reported Q4 net profit up by 36% to Rs 88.2 crore quarter on quarter and 123% year on year. The company's revenue increased by 37.5% to Rs 1,450.5 crore. EBDITA margin were up by 430 points at 23%.

The company board has suggested final dividend of Rs 1.50 per share. Total dividend for 2011 is Rs 4.00 per share (200%) on double the equity share capital post 1:1 issue of bonus shares in 2011 as against Rs3.00 per share (150%) for 2010.

CEO and Vice Chairman P.R. Chandrasekar said, "This has been a remarkably strong quarter on all fronts including 7.8 percent revenue growth in constant currency, 460 basis points expansion in EBIT margin, improvement in operational metrics. Through the y ear 2011, we have continued to make investments in strengthening our vertical capabilities and enhancing the depth in our horizontal competencies. With this, we have established the perfect platform to deliver above-industry performance in 2012. To meet our growth plan, we intend to add 1,500 plus employees during the year ahead."

Hexaware is a zero-debt company as of December 2011, Cash & cash equivalents improved to Rs 460 crore.

Global headcount of Hexaware has increased to 8,317 at the end of December 2011. 1,806 employees have been added during the year 2011. Attrition has declined sequentially to 13.9%.

Added 15 new clients during the quarter and 182 active clients at the end of Q4 2011.

On Thursday, the shares of the company on BSE closed at Rs 91.15 up by 9.30 points or 10.59%.

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