Hexaware order book rises by $40 million in Q4; positive on Q1 2006

Hexaware Technologies, a leading mid-cap software company focussing on PeopleSoft software, said it won new orders worth $40 million during the quarter ended 31 December 2005. The company added 10 new customers during the quarter.

The company has given a profit guidance of $5.4 million for the first quarter of financial year 2006 on total revenues of $38.6 million. The guidance does not include revenues and profits of its Indian Services Centre. The company follows a January-December accounting period.

Hexaware would also open the first phase of its new development centre in Chennai by the first quarter of 2007 and would employ around 3,000 people.

The company has posted consolidated net profit Rs24.75 crore for the quarter ended 31 December 2005 as compared to Rs21.46 crore for the pervious year quarter. Total revenues increased to Rs182.05 crore from Rs159.84 crore.

For the full year 2005, Hexaware has posted a net profit of Rs91.5 crore as compared to Rs 63.74 crore for the year 2004. Total revenues increased from Rs557.53 crore for the year 2004 to Rs693.24 crore.

Hexaware is trading at Rs127.65 (up 3.95 per cent) at 10.45 AM on the NSE today.