Financial Daily from THE HINDU group of publications
Wednesday, Feb 19, 2003
Financial Daily from THE HINDU group of publications Wednesday, Feb 19, 2003 |
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Info-Tech
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Software Hexaware sees 35 pc revenue growth Our Bureau
CHENNAI, Feb. 18 HEXAWARE Technologies Ltd expects a 30-35 per cent growth in revenue for the fiscal year 2003 (calendar year) over 2002. In its guidance, the company expects the consolidated net profit before tax of over $5 million (including profit of associate), according to a company communication issued to the Bombay Stock Exchange. In its 2003 guidance, Hexaware expects project and client ramp-up to pick up towards the end of first half of the year. The company restructured and revised salaries in India effective January 2003, and the move was expected to affect earnings in the first two quarters. The company has projected a flat growth for January-March quarter 2003, while revenues and profitability will scale up quickly thereafter. Hexaware also expects strong growth in Europe. During the year, the company intends to launch several new solutions including a dedicated service offering for HR applications, an integrated testing suite, a billing system for asset management systems, and a new leasing solutions for global clients, says the guidance.
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