Hexaware Technologies Expects Margins To Grow In Line With Revenue
Hexaware Technologies Ltd. expects operating profit margin to grow in line with revenue going forward after they remained little changed in the quarter ended June.
The lull in margin growth was due to a 2 percent drop in utilisation in the April-June period, Chief Exceutive Officer R Srikrishna told BloombergQuint today. “Growth in margin is likely to be aided by an increasing share in retail and commercial banks.”
Key Financial Highlights:
- Revenue rose 9.2 percent to Rs 1,137 crore.
- EBIT (earnings before interest and tax) were up 8.2 percent to Rs 159 crore.
- EBIT margins remained flat at 14 percent.
- Net profit increased 14 percent to Rs 153 crore.
- Guidance raised to 12-13 percent from 10-12 percent in 2018.