Hexaware Technologies' Q1 numbers up; Stock turns negative

Hexaware Technologies is amongst the few IT companies that have posted positive topline and bottomline growth in its Q1FY17 results. The company has also declared interim dividend at Rs 1.00 on equity shares of Rs 2.00.

The results were declared on July 28 after market hours. The stock of Hexaware has dropped more than 2 per cent at Rs 225 in early hours on July 29.

Hexaware’s consolidated revenues for Q1FY17 have increased 6 per cent at Rs 869.67 crores as against Rs 820.21 crores in the previous quarter. EBITDA stands at Rs 135.4 crores as against Rs 119.41 crores in the previous quarter, with an increase of 13.4 per cent.

Meanwhile, Company’s other income has increased from Rs 5.51 crores to Rs 13.2 crores. Company's tax expenses have risen from Rs 26.91 crores to Rs 34.73 crores during the quarter. Net profits of the company have grown by 18.8 per cent at Rs 100 crores as against Rs 84.19 crores in Q4FY16.

On a year on year basis, Company’s consolidated revenues have increased by 12.6 per cent from Rs 772.2 crores in the corresponding period of previous year. Net profits remained more or less in line with the same quarter of previous year.

Hexaware is an IT company dealing in business process services and consulting services. The Company operates through many segments including Travel, Transportation, Hospitality, Logistics, Banking and Financial Services, Insurance, Healthcare, Manufacturing and Services.