Hexaware Technologies signs contract worth $250 million

Under this contract, Hexaware is expected to ramp the team up to 800 personnel operating under dedicated global delivery centers

Hexaware Technologies, a leading global provider of IT, BPO and consulting services, has announced today that the company has signed a contract estimated at $250 million, with an existing client headquartered in United Kingdom for an additional five years starting 1 January 2012.

This engagement has been structured to enable Hexaware to offer its services to   newer geographies spanning across America, Europe and Asia Pacific. The additional revenues from this engagement will begin to accrue from the first quarter of 2012. This contract is expected to improve offshore ratio over the term of the contract.

Under this contract, Hexaware is expected to ramp the team up to 800 personnel operating under dedicated global delivery centers. It is envisaged that Hexaware will offer information technology (IT) services from its centers in Chennai, Mumbai, Pune and Mexico.

In the late afternoon, Hexaware was trading at around Rs85.40 per share on the Bombay Stock Exchange, 1.27% down from the previous close.

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Era Infra net profit declines to Rs51.34 crore for Q2 FY12

For the half year ended September 30, 2011, Era Infra’s revenue from contracts increased to 3.32% to Rs1,584.78 crore

For the quarter ended September 30, 2011, Era Infra Engineering’s net profit stood at Rs51.34 crore against Rs61.79 crore in the same period of last year.
During the same period, the company recorded revenues from contract of Rs772.03 crore, an increase of 0.42% from Rs768.82 crore. EBIDTA stood at Rs206.91 crore, an increase of 12.12% compared to Rs184.54 in Q2FY11.

For the half year ended September 30, 2011, the company’s revenue from contracts was at Rs1,584.78 crore, up 3.32%, from Rs1,533.86 during the corresponding period last year. The EBIDTA for the half year stood at Rs393.99 crore, registering an increase of 8.64% from Rs362.65 crore. The company reported a net profit of Rs102.77 crore against Rs120.85 crore in the same period of last year.

In the late afternoon, Era Infra was trading at around Rs150.35 per share on the Bombay Stock Exchange, 0.86% down from the previous close.

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Gitanjali Gems reports net sales of Rs3,167.6 crore

During the September 2011 quarter, Gitanjali Gems registered net profit of Rs132.2 crore

Gitanjali Gems Ltd reported net sales of Rs3167.6 crore for the quarter ended September 30, 2011, compared to Rs2509.7 crore in corresponding quarter of last fiscal year, registered a growth of 26.2%.

During the September 2011 quarter, the group registered net profit of Rs132.2 crore compared to Rs80 crore posted in the same quarter of last fiscal year. Earnings per share stood at Rs15.5 per share compared to Rs9.5 per share in the corresponding quarter of last fiscal year.

The EBITDA margin for the quarter was at 7% against 6.4% in the corresponding quarter of last fiscal year, registered a growth of 37.8%.

In the late afternoon, Gitanjali Gems was trading at around Rs349.95 per share on the Bombay Stock Exchange, 0.14% down from the previous close.

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