HomeBusinessHexaware Technologies shares down on poor profit returns in Q4

Hexaware Technologies shares down on poor profit returns in Q4

Reader's Pick

Mumbai-based IT consulting and digital service provider Hexaware Technologies on Wednesday reported a 5 percent decline in its share price on the stock exchange.

The decline in share price was reported after the company in its filing with the stock exchange reported, “It has reported an 8.7% decline in its consolidated net profit at Rs 167.8 crores in Q4 of 2019.”

“The company also saw an increase of 3.2% in its revenue for the Q4 December at Rs 1528.8 crore, and the Q4 EBITDA stood at Rs 239.7 crore improved by 0.8 percent,” the company in the filing said.

Adding to the filing the company said, “The company has recorded a 20.1% YoY increase in revenue at Rs 5582.5 crores in the year-end of 2019.”

- Advertisement -

“The net profit rose by 9.9 percent to Rs 641.3 crore, and EBITDA (Post RSU) at 19.7% to Rs 877.9 crore in FY19,” filing added.

Speaking on the performance, Atul Nishar, Chairman, Hexaware Technologies Limited, said, “Hexaware has seen sustained revenue growth with CAGR of 13.1% over the last 5 years. This is an acknowledgment of our excellent client relationships coupled with strong execution capabilities.”

Whereas, R Srikrishna, CEO & Executive Director, Hexaware Technologies said, “We had a market-leading performance from all but one vertical during the year. Consequently, we exited a seasonally weak 14 with solid growth and expect to continue that into 2020 with anticipated revenue growth in excess of 15% for the full year”.

close

Stay on top of Budget 2023 with our newsletter

We don’t spam! Read our privacy policy for more info.

close

Stay on top of Budget 2023 with our newsletter

- Advertisement -

We don’t spam! Read our privacy policy for more info.

- Advertisement -

Read latest Business News and Startup news on TechGraph. Watch live and latest news on TechGraph TV. Follow us on Facebook or follow us on Twitter and Instagram. Listen audio news from TechGraph Briefings on Spotify, Google Podcast, Amazon Music & on Apple Podcast.
 

Krishna Mali
Krishna Mali
Founder & Editor of TechGraph.

Latest News

Promoted Links

Related Stories

Japan approves 26 trillion yen as economic stimulus package to combat overseas risks

Japan's cabinet approved an economic stimulus package worth 26 trillion yen ($2...

Sino-US trade war offers Europe’s chance to bank more Chinese reserves: Analysis

Should European countries want the euro to replace the dollar as the world's do...

1Win App: Review India Apk for Android and iOS

The company 1Win has been successfully operating in the markets of many countri...

Employees union seeks FIR against Jet Airways boss Naresh Goyal, Vinay Dube and on SBI Chairman

The employee union of Jet Airways, which is facing its worst crisis, Friday sou...

Samsung Electronics asks its shareholders to use electronic voting for upcoming AGM

Technology giant Samsung Electronics has adopted electronic voting for the firs...

Rahul Gandhi hits on RCEP says, ‘Make in India’ has become ‘Buy from China’

Asserting that "Make in India" has become "Buy from China," Congress leader Rah...

NASA astronauts to carry first ever all-female spacewalk on 29 March

Two NASA astronauts are scheduled to carry out the first ever all-female spacew...
00:05:54

Union Budget 2023: Five Major Changes to the Personal Income Tax Regime

In a major announcement on income tax changes, the government has revealed five...
00:02:04

Union Budget 2023: Infrastructure Investment with Steep Capital Outlay

The Finance Minister, Nirmala Sitharaman, has announced the Union Budget 2023 w...
00:09:17

What Jammu & Kashmir, Ladakh, Northeast & Agritech got from Budget 2023?

Addressing the parliament on the ongoing union budget session, Finance Minister...