Hexaware’s Q2 revenue rises 6.1% to $405 million; hedge losses dent profit

Hexaware Technologies' Q2 revenue rose 6.1% year-on-year to $405.4 million, with 6.3% growth in constant currency.

Net profit fell 21.1% to $34.9 million due to an $8 million foreign exchange hedge loss from rupee appreciation.

CEO R Srikrishna advised investors to separate operating performance from treasury items, noting EBIT margin improved to 13.6%.

The company reported eight strategic deal wins, including three AI engagements, and two legacy modernization deals valued at about $10 million each.

Hexaware says AI is embedded across all service lines, with 100% of recent bookings involving AI in some capacity.