Hexaware Technologies profit down in first quarter

Hexaware Technologies profit down in first quarterHexaware Technologies has announced its first quarter results of the year 2010. As per the report, the company has been outplayed in terms of net profit and revenue. The consolidated net profit of Hexaware Technologies has been found out to be Rs 11.6 crore in this quarter. This was Rs 36 crore for the same quarter in the preceding year. As a result the company has seen deceline of 67.78% on quarter-on-quarter basis (QoQ).

So far as the sales figure of the company is concerned, the consolidated net sales have slipped to Rs 222 crore in this quarter. The net sales were Rs 252 crore for the same quarter last year.

In an interview with CNBC-TV18, Chairman, Hexaware Technologies, Mr. Atul Nishar has informed that despite the disappointing results in the current quarter the company is looking forward to receive a good amount of profit in the next quarter. He expects that the company may register a growth of 7 to 8% in the coming quarter. He has also said that the economy has revived from the recession just now and the company also needs time to re-stand its position.