INSUBCONTINENT EXCLUSIVE:
ET Intelligence Group: The stock of Hexaware Technologies has fallen by nearly 8% in the two trading sessions following its September
the September quarter and continued client-specific challenges in the current quarter ending December, which is also the final quarter in
largely aided by $21million contribution from Mobiquity, which it acquired in June 2019 for $182 million
Excluding this, sequential revenue growth was flat at 0.5% in dollar terms
The reduction in the outsourcing budget by one of its top clients in the finance vertical to 30% of the total IT budget from around 65% shed
But it will continue to remain our significant client
company was still able to clock 8.4% sequential growth in the banking and finance vertical, which contributed 38.6% to the total revenue in
the September 2019 quarter.
The travel and transport segment, which accounted for 10.1% of revenues, clocked a sequential growth of 12.4%
reduced the full-year revenue guidance to 17-18% from 19% earlier citing higher number of holidays in the December quarter and the client
employee attrition rate fell by 90 basis points to 17.3% sequentially
58 days in the year-ago quarter implying higher revenue collection efficiency.
While analysts have largely retained their target prices for
on the back of client-specific issue in BFSI
In that context, we cut our revenue growth estimate by 90bps/370bps (basis points) for CY19/
20
