Hexaware Q3 revenue up 22%, net increases 17%

BPO vendor Hexaware Technologies revenue for the third quarter of fiscal 2014 rose 22.4 percent to Rs 621.1 crore from Rs 507.5 crore in the same period last financial year.

The IT services firm’s net profit increased 17.4 percent to Rs 98.7 crore for the third quarter ended September 30, 2013.

The company added 13 clients during the quarter.

The IT services firm, which competes with Infosys, Wipro, TCS, etc. also reported addition of 250 employees across business to 8,950. Hexaware said attrition for the quarter ended September 2013 was at 12.3 percent.
Baring Private Equity Asia recently acquired controlling stake in the company.
“We will continue to strengthen our field organization as well as our domain and technology competencies,” said P R Chandrasekar, CEO and vice chairman, Hexaware Technologies.

During the quarter, the company added 13 new clients across all its key focus areas.
Of these,  3  clients were  added  in  the  banking  and  financial  services (BFS)  domain  and 6 clients were added in the healthcare & insurance (H&I) space and one client in the travel and transportation  vertical.  Of  the  13  clients  added  in  Q3  2013,  5  customers  are  based  in Americas, 3 in Europe and 5 in Asia Pacific (APAC) region.

From a horizontal service line perspective, 4 clients were won in enterprise solutions space, 3 clients  each  in  business  intelligence  and  business  analytics  (BI/  BA)  horizontal,  quality assurance  and  testing  services  (QATS)  and  1  client  each  in  business  process  outsourcing (BPO) and remote infrastructure management services (Remote IMS) service line.
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