Hexaware net up by 239 percent

NEW DELHI: Hexaware Technologies announced that it has posted a profit after tax of Rs 22 crore for the quarter ended September 30, 2005 as compared to Rs 6.5 crore for the quarter ended September 30, 2004.

The total income increased from Rs 64 crore in the corresponding period during the previous year to Rs 99.6 crore for the quarter ended September 30, 2005.

According to the release, the company witnessed a robust demand for PeopleSoft services. “We witnessed a strong and promising quarter. Business grew from both new wins and more business from existing clients. More than 90 percent was repeat business. Our million-dollar clientele has risen to 29, with 8 clients billing over $ five million each. Around 37 of our active clients belong to Fortune 500 / Global 500," said Atul Nishar, chairman, Hexaware Technologies.

"The market for PeopleSoft services has taken off again, and we are seeing robust demand for our market-leading solutions. The pipeline for both our testing services and the recently launched Business Analytics solutions has also improved significantly,” added Rusi Brij, vice-chairman and CEO.

The company has raised its FY05 net profit guidance to $19.5 from $18-19 million announced earlier, while maintaining the revenue outlook at $ 53 million.