Hexaware revenue in constant currency at $116.4 Mn, up 1.6% QoQ; up 21.4% YoY

Mumbai, India, April 29, 2015: Hexaware Technologies Limited, a leading global provider of IT, BPO and Consulting services has just reported results for the first quarter of the calendar year ended March 31, 2015.

“This Quarter we have continued to invest in new solutions, improving client management and in Sales and Marketing which will yield result in the future quarters.” remarked Atul Nishar, Chairman, Hexaware Technologies Limited.

“We are pleased to have delivered a modest revenue growth in a seasonally difficult quarter. We remain confident of our future and continue to invest in our growth.”, stated R Srikrishna, CEO & Executive Director, Hexaware Technologies Limited.

First Interim Dividend of 2015

The Board of Directors declared a first interim dividend of Rs. 2.00 per share (100%) on equity shares of Rs. 2.00 each. The book closure date is fixed as Thursday, May 7, 2015 for determining the shareholders entitled for this first interim dividend of the year 2015. The payment shall be made on May 12, 2015. This would result in a cash outflow of Rs. 72.48 Crores for dividend payment including tax, amounting to a dividend payout ratio of 87% for Q1 2015.

Business Update

Americas led the geographic growth while Travel and Transportation led growth among verticals in Q1 2015. Application Development & Maintenance (ADM) led growth among service lines in value terms, while BPS clocked the highest percentage increase in Q1 2015.

During the previous quarter, the Company added 10 new clients across all its key focus areas. The company added 4 clients in the Manufacturing and Consumer Vertical, 2 clients each in Banking and Financial Services, Healthcare & Insurance and Travel and Transportation Segment. Of the 10 clients added in Q1 2015, 4 customers are based in Americas, 3 each in Europe and Asia Pacific (APAC) region.

From a horizontal service line perspective, 3 clients each were added in Enterprise Solutions and Applications Development & Maintenance (ADM), 2 clients each in Business Process Services (BPS) and Quality Assurance and Testing Services (QATS).

Foreign Exchange Cover

The Company has hedges worth $ 196.80 mn at an effective rate of Rs. 66.56 and € 7.12 mn at an effective exchange rate of Rs. 75.86 maturing over the course of the next eight quarters (from Apr 2015 to Mar 2017).

Awards and Recognition

During the last quarter, Hexaware was recognized as the “100 MOST TALENTED GLOBAL HR LEADERS” during World HRD Congress held by CHRO ASIA.

Hexaware has won the ICAI Award for Excellence in Reporting for the second consecutive year.

Hexaware has been mentioned in different Gartner reports during Q1 2015. These reports are titled:

1. “Market Trends: SAP Service Provider Opportunities in a Postmodern ERP World”
2. “Market Guide for Midmarket SAP Service Providers”
3. “The Gartner CRM Vendor Guide, 2015”
4. “Market Guide for Higher Education Student Information Systems”
5. “Market Share: IT Services, 2014”

Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

© Technuter.com News Service

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