Hexaware Technologies Ltd., a provider of IT & BPO services, has reported a 53 percent rise in net profit for the second quarter helped by new client orders. The company reported net profit of 297.71 rupees, while revenue increased 25.3 percent to 2.1 billion rupees.
Hexaware said it recorded the highest order book of USD 50 million, driven by powerful sales execution resulting from double digit growth in every geographical region.
"We have added 15 new clients, the largest the company has ever registered in a single quarter. With over 600 Hexawarians adding to the global headcount, we are confident we will cross the 5500 count by end of the year," commented Atul Nishar, Executive Chairman, Hexaware Technologies Ltd.
"The fall in gross margin due to wage increase has been offset to a large extent by reducing SG&A costs. We will recover margins in next two quarters," said Rusi Brij, Vice Chairman and CEO.
For the third quarter ending September 30, 2006, the company expects revenue from operations at USD 48 million. Hexaware expects to post net profit for USD 7.2 million for the third quarter.
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