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(RTTNews) - Hexaware Technologies Ltd, a provider of IT & BPO services globally, today announced strong financial results for the second quarter endingJune 30, 2006 with the Company achieving sequential double-digit growth in both revenue and net profit.

The Mumbai based company's consolidated second quarter Net Profit climbed 53% to Rs. 30 crores from Rs.19 crores in the same period last year. The net profit in terms of USD was $6.5 million compared to the net profit guidance of $ 6 million.

Revenue from Operations was Rs.207 crores or $ 45.21 million and rose 44% over corresponding quarter in 2005 and 17.4% sequentially. It surpassed the revenue guidance of $42.5 million provided by the company for the quarter.

Hexaware also recorded the highest order book of $ 50 million driven by powerful sales execution resulting from double digit growth in every geographical region.

The company added that its operating margins improved to 12.8% compared to 8.3% in Q2' 05. The company added 15 new clients in the quarter and increased the global headcount from the previous quarter by 606 to 4,730 people.

Looking ahead, the Company sees its Q3 revenue from Operations at $48 million- a growth of 6% over Q2' 06 and Q3 net profit at $7.2 million - a growth of 10% over Q2' 06.

During the Quarter, of the 36 clients that recorded more than a million dollar in revenues, 5 were in the $5-$10 million range while another 3 billed more than $10 million each.

Offshore volumes have shown a significant growth this quarter, going up from to 39.6% compared to 38.4% in previous quarter. SG&A costs went down marginally to 21.0% compared to 22.0% Q1'06. During the quarter, Operating Margin at 12.8% was impacted by 1.3% on account of annual pay hike and visa charges.

The Board of Directors declared an interim dividend @ 40% on equity shares of the company. The record date is fixed on Thursday, August 3, 2006 for determining the shareholders who shall be entitled for an interim dividend.

Hexaware is a global provider of IT and BPO services to over 40 Fortune 500 companies. Hexaware has expertise in domains such as Banking, Financial, Insurance, Leasing, Transportation and HR.

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