Latest news with #Carlyle-backed
Economic Times
4 days ago
- Business
- Economic Times
Hexaware profit lags estimates, shares tank
Carlyle-backed Hexaware Technologies reported a 38% on-year rise in June quarter net profit in rupee terms at Rs 380 crore. Profit rose 16% trailed expectations, largely due to a more than 20% increase in other expenses such as acquisition-related cost, and impairment of customer contract associated with an earlier issued a muted revenue guidance for the year ahead. The company follows a January to December financial its mid-tier peers, Hexaware's Q2 revenue was relatively subdued at Rs 3,260 crore, rising 11.1% on-year and 1.6% sequentially in constant currency terms, lagging Street constant currency terms, revenue stood at $382.1 million, growing 1.3% sequentially and 7.5% from a year ago. During the quarter, revenue growth was impacted by decline in manufacturing and consumer segments, and flat growth in financial services."Our growth expectations for the year are a little bit lower now than it was in the beginning of Q2," R Srikrishna, CEO, Hexaware told ET. Shares of Hexaware fell sharply on the earnings announcement. They closed 10.7% lower at Rs 738.25 apiece, underperforming a 0.88% decline in the benchmark BSE Sensex.
Time of India
4 days ago
- Business
- Time of India
Hexaware profit lags estimates, shares tank
Academy Empower your mind, elevate your skills Carlyle-backed Hexaware Technologies reported a 38% on-year rise in June quarter net profit in rupee terms at Rs 380 crore. Profit rose 16% trailed expectations, largely due to a more than 20% increase in other expenses such as acquisition-related cost, and impairment of customer contract associated with an earlier issued a muted revenue guidance for the year ahead. The company follows a January to December financial its mid-tier peers, Hexaware's Q2 revenue was relatively subdued at Rs 3,260 crore, rising 11.1% on-year and 1.6% sequentially in constant currency terms, lagging Street constant currency terms, revenue stood at $382.1 million, growing 1.3% sequentially and 7.5% from a year ago. During the quarter, revenue growth was impacted by decline in manufacturing and consumer segments, and flat growth in financial services."Our growth expectations for the year are a little bit lower now than it was in the beginning of Q2," R Srikrishna, CEO, Hexaware told ET. Shares of Hexaware fell sharply on the earnings announcement. They closed 10.7% lower at Rs 738.25 apiece, underperforming a 0.88% decline in the benchmark BSE Sensex.
Economic Times
5 days ago
- Business
- Economic Times
Hexaware Technologies Q2 Results: Profit jumps 38% YoY to Rs 380 crore but misses estimates
Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Carlyle-backed Hexaware Technologies reported a 38% on-year rise in June quarter net profit in rupee terms at Rs 380 crore. Profit rose 16% trailed expectations, largely due to a more than 20% increase in other expenses such as acquisition-related cost, and impairment of customer contract associated with an earlier issued a muted revenue guidance for the year ahead. The company follows a January to December financial its mid-tier peers, Hexaware's Q2 revenue was relatively subdued at Rs 3,260 crore, rising 11.1% on-year and 1.6% sequentially in constant currency terms, lagging Street estimates. In constant currency terms, revenue stood at $382.1 million, growing 1.3% sequentially and 7.5% from a year the quarter, revenue growth was impacted by decline in manufacturing and consumer segments, and flat growth in financial services.'Our growth expectations for the year are a little bit lower now than it was in the beginning of Q2,' R. Srikrishna, CEO, Hexaware told ET.'With lots of new promises of higher tariffs against multiple countries…that's on the negative side. On the positive side, some trade deals have been announced with some smaller countries and there could be a slew of them in the next few weeks,' he of Hexaware fell sharply on the earnings announcement. They closed 10.7% lower at Rs 738.25 apiece, underperforming a 0.88% decline in the benchmark BSE Hexaware management said there is softness and cyclicality in the macro environment, and that all large consolidation deals are continuing.'Small and mid-sized deals are progressing well. However, decision making is slowed. Consequently, lowered expectations for the rest of the year,' the company Europe witnessed growth both on-year and sequentially, but Asia Pacific witnessed a decline from a year ago, and marginal growth from the March quarter.'There will be one or two quarters which will have blips (in Asia Pacific) but long-term, in general, it will be positive,' said Srikrishna. 'In India, we made an acquisition to serve GCC (global capability centre) customers here. In the Middle East, we continue to have a strong pipeline and expect to convert in Q3 and grow revenues in Q4.'This month, Hexaware acquired Bengaluru-based SMC Squared for $120 million (about Rs 1,038 crore) in an all-cash deal, which is expected to add revenue growth in the coming two adjusted margin improved to 18.1%, up from 17.1% in the March quarter, its full-year margin guidance stood at 17.1–17.4%.The company expects banking to continue to deliver better sequential growth despite a one-off degrowth in Q1 which will impact financial services for the full year.'On manufacturing, customers are waiting for clarity on costs. Once that happens, it takes a few weeks to translate that into what it means for them,' Srikrishna said.
Time of India
5 days ago
- Business
- Time of India
Hexaware Technologies Q2 Results: Profit jumps 38% YoY to Rs 380 crore but misses estimates
Carlyle-backed Hexaware Technologies reported a 38% on-year rise in June quarter net profit in rupee terms at Rs 380 crore. Profit rose 16% sequentially. Profit trailed expectations, largely due to a more than 20% increase in other expenses such as acquisition-related cost, and impairment of customer contract associated with an earlier acquisition. Hexaware issued a muted revenue guidance for the year ahead. The company follows a January to December financial year. Unlike its mid-tier peers, Hexaware's Q2 revenue was relatively subdued at Rs 3,260 crore, rising 11.1% on-year and 1.6% sequentially in constant currency terms, lagging Street estimates. In constant currency terms, revenue stood at $382.1 million, growing 1.3% sequentially and 7.5% from a year ago. During the quarter, revenue growth was impacted by decline in manufacturing and consumer segments, and flat growth in financial services. Live Events 'Our growth expectations for the year are a little bit lower now than it was in the beginning of Q2,' R. Srikrishna, CEO, Hexaware told ET. 'With lots of new promises of higher tariffs against multiple countries…that's on the negative side. On the positive side, some trade deals have been announced with some smaller countries and there could be a slew of them in the next few weeks,' he added. Shares of Hexaware fell sharply on the earnings announcement. They closed 10.7% lower at Rs 738.25 apiece, underperforming a 0.88% decline in the benchmark BSE Sensex. The Hexaware management said there is softness and cyclicality in the macro environment, and that all large consolidation deals are continuing. 'Small and mid-sized deals are progressing well. However, decision making is slowed. Consequently, lowered expectations for the rest of the year,' the company said. Geographically, Europe witnessed growth both on-year and sequentially, but Asia Pacific witnessed a decline from a year ago, and marginal growth from the March quarter. 'There will be one or two quarters which will have blips (in Asia Pacific) but long-term, in general, it will be positive,' said Srikrishna. 'In India, we made an acquisition to serve GCC (global capability centre) customers here. In the Middle East, we continue to have a strong pipeline and expect to convert in Q3 and grow revenues in Q4.' This month, Hexaware acquired Bengaluru-based SMC Squared for $120 million (about Rs 1,038 crore) in an all-cash deal, which is expected to add revenue growth in the coming two quarters. While adjusted margin improved to 18.1%, up from 17.1% in the March quarter, its full-year margin guidance stood at 17.1–17.4%. The company expects banking to continue to deliver better sequential growth despite a one-off degrowth in Q1 which will impact financial services for the full year. 'On manufacturing, customers are waiting for clarity on costs. Once that happens, it takes a few weeks to translate that into what it means for them,' Srikrishna said.
Economic Times
29-05-2025
- Business
- Economic Times
Carlyle portfolio firms SeQuent Scientific and Viyash Life get stock exchange nod for merger
SeQuent and Viyash move a step closer to merging, with Carlyle aiming to build a 2X scale business in animal health and pharma R&D. Carlyle-backed SeQuent Scientific and Viyash Life Sciences have secured stock exchange approvals for their merger. Next, they will approach NCLT. The merged entity aims to double in scale, with SeQuent's animal health focus complemented by Viyash's R&D and API strengths. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Carlyle portfolio firms SeQuent Scientific and Viyash Life Sciences have got stock exchange approvals for their planned merger. The former is listed while the latter is Scientific conveyed the development in a stock exchange filing on a next step, they will approach the national company law tribunal (NCLT) for holds a 53% stake in SeQuent and is the majority shareholder in privately held Viyash. SeQuent operates in the niche segment of Animal Health and markets its products in over 90 has built a strong presence in active pharmaceutical ingredients (API) and R&D space with strong business relations with leading companies around the globe.'We are pleased that our proposed merger with Viyash Life Sciences is progressing as planned. This merger will accelerate a compelling new journey for SeQuent as a leading player in animal health, and Viyash with its world-class R&D capabilities and USFDA-approved facilities,' said Rajaram Narayanan, managing director, SeQuent Scientific.'FY 2024–25 marks a pivotal year for us, with strong business results as we accelerate our growth and lay the foundation for the next phase of growth. With Viyash joining us, we are poised to become a significantly stronger business—2X in scale, capability, and opportunity.'Under the agreed merger terms, shareholders of Viyash will receive 56 SeQuent shares for every 100 Viyash shares Q4 FY25, the combined entity of SeQuent and Viyash delivered robust performance with consolidated revenues of Rs. 770 crore reflecting a 13.2% year-on-year growth. Adjusted earnings before interest, tax, depreciation and amortization stood at Rs. 122 crore, up 63.2%, with margins expanding by 485 basis points to 15.8%.
