Hexaware Technologies: Q2CY14 Result Analysis
Nutan Gupta / 22 Jul 2014
Hexaware Technologies, a leading global provider of IT, BPO and Consulting services reported its financial results for the second quarter of the calendar year ended June 30, 2014. We give you the highlights of the company’s performance.
The income from operations of Hexaware Technologies came in at Rs 610.38 crore in the quarter ended 30th June, 2014 as against Rs 536.60 crore in the corresponding quarter last year. The company’s total expenses stood at Rs 519.47 crore in the current quarter as compared to Rs 418.70 crore in the same quarter last fiscal. Employee Benefits expense and Software and Development expense contributed a major part in the total expenses which stood at Rs 339 crore and Rs 105.46 crore respectively. The profit after tax (PAT) slipped substantially in Q2CY14 to Rs 76.57 crore from Rs 97.90 crore in Q2CY13, reporting a drop of 21.78%. The fall in profit can be attributed to higher total expenses during the quarter.
Coming to the segment-wise revenue, out of the total revenue of Rs 610.38 crore, the revenue from travel and transportation was Rs 117.37 crore, revenue from banking and financial service was Rs 210.97 crore, revenue from insurance and healthcare was Rs 86.81 crore, revenue from manufacturing and services was 114.35 crore while that from others was Rs 80.86 crore.
The company has hedged worth $118.9 mn at an effective rate of Rs 59.32 and €5.9 mn at an effective exchange rate of Rs 77.28 maturing over the course of the next five quarters (from July 2014 to July 2015).
The Board of Directors declared a second interim dividend of Rs 1.60 per share (80%) on equity shares of Rs 2 each.
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