Hexaware is looking to spruce up the growth momentum through inorganic route. The company plans to spend $250-300 million in the next two-three years on acquisitions through borrowings and internal accruals.“Our cash position is strong at $ 120 million with no debt. We would like to use the cash and may be some borrowings to acquire skillsets over the next two-three years,” the company’s CEO and executive director, R Srikrishna told ET. He expects 5-6% incremental revenue growth through acquisitions during the period. The Mumbai based mid-sized software company’s revenue grew by 11.6% growth to $ 677.7 million in the fiscal ended December 2018. It has guided for a strong 12-14% organic revenue growth for 2019. Any acquisitions during the period will therefore further boost the growth momentum.Hexaware paid dividend of Rs 8.5 per share with face value of Rs 2 in 2018. While it expects to retain the absolute amount of dividend, Srikrishna pointed out that the actual amount will depend upon the extent of acquisitions.The company’s revenue increased by 3.5% sequentially to Rs 1,252.4 crore in the December 2018 quarter. Operating profit (EBIT) and net profit dropped by 5.9% to Rs 668.4 crore and by 28.3% to Rs 123.4 crore respectively following outgo on salary increments.
from Economic Times http://bit.ly/2UsmnyL
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Thursday, January 31, 2019
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Orai is a city and a municipal board in Jalaun district in the Indian state of Uttar Pradesh. It is the district headquarters for Jalaun District.
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