Hexaware net at Rs 218.42 mn for Q4 2007

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Mumbai, Feb 21 (UNI) Hexaware Technologies, a leading global IT and BPO service provider, has posted a low net profit at Rs 218.42 million for the fourth quarter ended December 31, 2007 compared to Rs 269.16 million in the corresponding period the previous fiscal.

Company executive chairman Atul Nishar told mediapersons here today that the Company's revenue from operation stood weaker at Rs 2591.79 million against Rs 2546.15 million. ''The Company's order book for 2008 stands at USD 210 million, 40 per cent higher than that of 2007. The Company handled the exceptional forex incident in a very transparent manner. We remain adequately funded and this forex loss has not impacted our business and investment plans for 2008 in any way,'' he said.

The Company registered a loss of Rs 10.76 crore for the year ended December 31, 2007 as compared to profit of Rs 118.66 crore a year ago.

Total income, however, increased 7.37 per cent to Rs 495.74 crore for FY07 as against Rs 461.70 crore for FY06.

The Group posted a loss of Rs 81 crore for the quarter ended December 31, 2007 as compared to profit of Rs 33.75 crore for the same quarter a year ago.

The Group's income, however, increased 7.05 per cent to Rs 266.46 crore for Q4 FY07 as against Rs 248.89 crore for the same quarter a year earlier.

The Group's net profit stood at Rs 7.22 crore for the year ended December 31, 2007 as compared to Rs 124.23 crore a year ago, declining by 94.18 per cent.

Its total income, however, increased 22.46 per cent to Rs 1068.67 crore for FY07 from Rs 872.62 crore for the year ended December 31, 2006, he added.

Meanhile, on the sidelines of the meeting, Company CEO and Vice Chairman Rusi Brij told UNI that in light of one-time exeptional loss and company law restrictions, the Company has not declared a final dividend. ''The Company had already paid an interim dividend of 40 per cent in July 2007 against the final dividend of 80 per cent in 2006.

The quarter saw 11 new client additions from North America, three from Europe and two from APAC. Revenue of 66.3 per cent came from North America, with the European share at 26 per cent and the balance 7.7 per cent coming from rest of the world. The Company opened its second development centre in Mexico. Together with FocusFrame's center, the head count at the Mexico centre is likely to exceed 500 employees over the next three years, he added.

UNI AR GR SKB1634

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