Quarterly PAT exceeds US$100 Million for the first time, reports Hexaware

Hexaware Technologies has reported robust performance for the fourth quarter of the calendar year ended December 31, 2013.Atul Nishar, Chairman, Hexaware Technologies, remarked, “Hexaware has achieved two new milestones this quarter. The Company has for the first time crossed $100 million quarterly revenue and Rs.100 crore quarterly PAT. This is a validation of Hexaware’s strategic direction and management team.”

“We have seen an increase in the count of clients generating US$20 million plus annual revenue from 3 to 4 and US$1 million plus from 53 to 55 in Q4 2013. As we enter 2014, we will continue to make investments in strengthening our core competencies across verticals as well as horizontals and through those initiatives, enhance our ability to add value to our customers,” stated P. R. Chandrasekar, CEO & Vice Chairman, Hexaware Technologies.

The Board of Directors declared a third interim dividend of Rs.7.50 per share (375%) on equity shares of Rs.2/- each. During the previous quarter, the Company added 10 new clients across all its key focus areas. Of these, 1 client was added in the Banking and Financial Services (BFS) domain and 2 clients each were added in the Healthcare & Insurance (H&I) space and in the Travel and Transportation Vertical. Of the 10 clients added in Q4 2013, 5 customers are based in Americas, 1 in Europe and 4 in the Asia-Pacific (APAC) region.

The Company had hedges worth $174.7 million at an effective rate of Rs.58.04 and € 9.3 million at an effective exchange rate of Rs.76.17 maturing over the course of the next seven quarters (from January 2014 to July 2015).