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Hexaware dips 9% on revised revenue outlook

Source : BUSINESS_STANDARD
Last Updated: Fri, Dec 07, 2012 21:01 hrs

pHexaware Technologies stock plunged 93 per cent as the company revised its fourth quarter revenue outlook downwards citing changes to a project plan and an impact of about 450000 on account of Hurricane Sandy in the USppThe company lowered its December quarter revenue outlook to 92 million from the previously stated range of 947 million - 965 million a growth of 18 per centpp&ldquoThe relationship with the client remains solid All other projects and initiatives with the client continue unchanged and on track The company remains on course to deliver above industry revenue growth over the medium term&rdquo said P R Chandrasekar chief executive officer and vice-chairman Hexaware TechnologiesppThe company would also have a material adverse impact on the profitability margin metric this quarter on account of the revision in revenue outlook and due to continued investments made by Hexaware the company saidppThe stock opened at Rs 107 and hit a low of Rs 9575 per share on the BSE representing a drop of 105 per cent The stock though closed at Rs 965 per share down 93 per cent from the previous close of Rs 10645p


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