Hexaware keeps up guidance

Mumbai, Apr 28 (UNI) IT and BPO services provider Hexaware Technologies Limited today reported a three per cent growth in its revenue for the Quarter ending March 31 over the previous quarter at Rs 266.95 crore, with net profit estimated at Rs 20.86 crore.

The Company in a release here said the Quarter was marked by substantial improvements in the financial performance, despite the slowing US economy. The Company achieved its revenue guidance and showed a marked improvement in its financial metrics, excluding the impact of mark to market loss of Rs 5.6 crore, in view of the changed accounting policy.

It said income from investments was reduced by Rs 2.77 crore in Q1 '08 compared to Q4 '07. Operating margins, excluding MTM loss, were 9.6 percent as against 4.6 per cent for last quarter, when the operating margins stood at 7.5 per cent after incorporating mark to market losses.

The company had added 11 new clients during the Quarter taking the total active clients to 173, of whom 63 were Fortune / Global 500 corporations.

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