Hexaware
The company posted an indifferent set of numbers for its first quarter ended 31st March 2013. For Q1, the company posted a 1% sequential rise in net revenue at Rs.508 crore, with a 20% rise in net profit at Rs.79 crore. But YoY, net profit was down 10%. EBITDA margin rose 240 bps on QoQ at 19.3% and PAT margins were up 240 bops at 15.6%. It added 11 new clients in the quarter, same as in preceding Q4, having 216 active clients currently. It global headcount at the end of the quarter stood at 8670 and attrition rate came down from 11% (YoY) to 9.9% but up from 8.7% on QoQ. Cash and equivalents at the end of the quarter stood at Rs.566 crore.
Looking ahead, the company has guided a revenue for Q2 2013 in the range of $ 94 mn - $ 96 mn (exchange rates taken at 1 £ = 1.55 $, 1 € = 1.30 $ and 1 $ = Rs. 54.38); a QoQ revenue growth in $ terms of 0% - 2%. While announcing the numbers last quarter, for Q1 2013, the company had guided a revenue of US$94 to 95 million and it did come at $94 million. Thus in current Q2, it expects things to remain more or less flat. During the quarter, average bill rate per hour for Q1 2013 remained stable at $ 73.64 for onsite services and to $ 23.37 for offshore locations. The company has forward contracts worth $ 240 mn at an average rate of Rs.53.6 and hedges worth € 14 mn at an average exchange rate of Rs. 71.2, maturing over the course of the next eight quarters (from April 2013 till April 2015).