Hexaware Technologies has reported revenues of INR2.22bn for the first quarter of 2010, a decrease of 16% compared to INR2.64bn for the same period last year.
The company posted a gross profit of INR799m, a decrease of 30.9% compared to INR1.16bn in the same period last year. The company’s EBITDA was INR182m, a decrease of 53.5% compared to INR392m in the same period a year ago. Operating profit declined 62.1% to INR123m from INR325m.
For the fourth quarter ended March 31, 2010, the company posted a profit after tax of INR116m, a decrease of 33% compared to INR173m in the same period last year.
The company’s BFSI segment accounted for 40.8% of the total revenues and TTHL accounted 20%, while emerging segments accounted for 39.2% of the total revenues.
Geographically, Americas accounted for 68.7% of total revenues, Europe accounted for 25.4%, and rest of the world accounted for 5.9% of total revenues.
Chandrasekar, CEO and vice chairman of Hexaware Technologies, said: “We are confident about our performance in Q2 2010 which is reflected in our revenue guidance based on the confirmed business and the quality of the deal pipeline. In line with our growth plans, we continue to bolster our execution capabilities through the addition of employees and strengthening our competencies.”
