Software service provider Hexaware Technologies has reported a 48 per cent increase in net profit at Rs 89.03 crore for the second-quarter ended June 2012 against the same period last year.
Growth in revenue as well as improvement in margins contributed to the better performance.
However, on a quarter-on-quarter basis, the net profit was flat at Rs 88.36 crore. Revenues grew by about 50 per cent to Rs 500 crore for the June quarter against the corresponding period last year.
“Till now, increased focus was on the top 20 accounts. For the next quarter, we will increase our focus on the next set of client accounts. Focus will also be on investment in the enterprise application areas,” said Mr P. R. Chandrasekar, CEO and Vice-Chairman, Hexaware Technologies. The company is also looking at increasing its presence in the Asia-Pacific region. “About 7.5 per cent of our revenues are generated from this region at present. We hope to increase this to about 10 per cent in the next 18 months,” said Mr Chandrasekar. It has already inducted sales people and added practitioners to strengthen its presence in this region.
Recently, Hexaware entered into a strategic alliance with a multi-billion global corporate to establish a large, secure Enterprise Resource Planning application outsourcing services. This is expected to bring revenues estimated to the tune of $100 million cumulatively over the next four years, said the company in a release.
The stock closed at Rs 114.10, down 2.44 per cent from its previous close on the BSE.