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Mid-tier, India-based IT/BP services firm, Hexaware, seems to be on a bit of a roll (see Hexaware leaps forward), recording market-leading quarterly revenue growth. Headline Q3 revenues (to 30th Sept.) grew by 29% yoy (5.3% qoq) to $79m, a rate which pipped that of industry leaders TCS (see TCS surges in Europe), Infosys (see Infosys adjusts growth outlook as Europe struggles) and HCL (see HCL tops a billion!).
Hexaware’s operating margins improved significantly, by 350bps qoq to 17.0%, comfortably ahead of HCL. Hexaware also recorded the fastest growth in Europe among peers, with revenues up 33% yoy, adding a couple of new logos along the way. Tiny they may be in comparison to the billion-dollar giants, but clearly there is room in the sandbox for players who can find the gaps between the larger footprints!
