Hexaware Technologies Q1 results: Profit rises 18.3%

IT services firm Hexaware TechnologiesNSE -3.94 % said net profit jumped 18.3% year-on-year to $23.4 million (about Rs 177.84 crore) in the quarter to March.

Revenue for the quarter was up 17% at $210 million, and up 18.2% in constant currency terms. In view of the uncertainty caused by the Covid-19 pandemic, the company said it was suspending the guidance provided earlier for FY20.

“As digital transformation becomes imperative in the current environment, I am confident that our strategic focus and robust execution capabilities will drive our growth going forward,” said Atul Nishar, chairman at Hexaware Technologies.

The company reported new deals with a total contract value of $69 million during the quarter, making it one of the best quarters for the firm, it said.