Hexaware Technologies share price rises over 6% on strong Q1 earnings
Share price of Hexaware Technologies gained up to 6.56% to Rs 306 compared to the previous close of Rs 287.15 on BSE
- Apr 29, 2020,
- Updated Apr 29, 2020 4:11 PM IST
Hexaware Technologies share price rose over 6% today after the IT firm reported better-than-expected earnings in quarter ended March. Share price of Hexaware Technologies gained up to 6.56% to Rs 306 compared to the previous close of Rs 287.15 on BSE. It opened with a gain of 5.52% at Rs 303 on BSE.
It closed 2.91% higher at Rs 295.50. The stock hit a 52 week high of Rs 439 on June 21, 2019 and 52 week low of Rs 201.70 on March 23, 2020. Hexaware Technologies stock stands higher than 5 day and 20 day moving averages but lower than 50 day, 100 day and 200 day moving averages. Total 2.55 lakh shares changed hands amounting to turnover of Rs 7.48 crore on BSE.
The stock has lost 16% during last one year and fallen 12% since the beginning of this year. The IT firm posted a 26.3 per cent rise in Q1 net profit at Rs 175 crore against net profit of Rs 138.4 crore in the January-March period of 2019.
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Hexaware said it was suspending its guidance for FY20 amid uncertainty due to COVID-19 pandemic. The company follows January-December as its fiscal year.
Revenue rose 22 per cent to Rs 1,541.7 crore in the quarter under review as compared with Rs 1,264 crore in the year-ago period.
"COVID-19 has led to significant uncertainty in the current environment. In view of this, we suspend the guidance that was provided earlier for FY''20," it said.
Total income also rose 25.8% yearly to Rs 1,585 crore in the January-March quarter of the current fiscal as compared to Rs 1,259 crore in the same period last financial year.
The IT major registered profit of Rs 641 crore during the year ended March 31, 2020, while its income for the year stood at Rs 678 crore.
Hexaware Technologies share price rose over 6% today after the IT firm reported better-than-expected earnings in quarter ended March. Share price of Hexaware Technologies gained up to 6.56% to Rs 306 compared to the previous close of Rs 287.15 on BSE. It opened with a gain of 5.52% at Rs 303 on BSE.
It closed 2.91% higher at Rs 295.50. The stock hit a 52 week high of Rs 439 on June 21, 2019 and 52 week low of Rs 201.70 on March 23, 2020. Hexaware Technologies stock stands higher than 5 day and 20 day moving averages but lower than 50 day, 100 day and 200 day moving averages. Total 2.55 lakh shares changed hands amounting to turnover of Rs 7.48 crore on BSE.
The stock has lost 16% during last one year and fallen 12% since the beginning of this year. The IT firm posted a 26.3 per cent rise in Q1 net profit at Rs 175 crore against net profit of Rs 138.4 crore in the January-March period of 2019.
Share Market LIVE: Sensex up 620 points, Nifty at 9,568; Hindalco, HDFC twins top performers
Hexaware said it was suspending its guidance for FY20 amid uncertainty due to COVID-19 pandemic. The company follows January-December as its fiscal year.
Revenue rose 22 per cent to Rs 1,541.7 crore in the quarter under review as compared with Rs 1,264 crore in the year-ago period.
"COVID-19 has led to significant uncertainty in the current environment. In view of this, we suspend the guidance that was provided earlier for FY''20," it said.
Total income also rose 25.8% yearly to Rs 1,585 crore in the January-March quarter of the current fiscal as compared to Rs 1,259 crore in the same period last financial year.
The IT major registered profit of Rs 641 crore during the year ended March 31, 2020, while its income for the year stood at Rs 678 crore.