Key takeaways
- Achieve 12.4% year-on-year revenue growth, reaching $371.5 million in Q1CY25.
- Secure three customers contributing over $75 million each, including one exceeding $100 million.
- Expand EBITDA by 20.8% and EPS by 16.7% year-on-year.
- Leverage AI-driven strategies to modernize client operations and win significant deals.
- Increase profit margins by 117 basis points year-on-year amid economic uncertainty.
Hexaware Technologies, a global technology and business process services company, reported strong results for the first quarter of calendar year 2025.
For the quarter ended March 31, 2025, Hexaware’s revenue stood at $371.5 million, a 12.4% increase year-on-year and an almost flat 0.2% QoQ growth.
The company's EBITDA rose by 20.8% over the same period, while earnings per share (EPS) grew by 16.7% year-on-year to ₹5.38.
“We continued to execute well on the basics that power our growth — win market share through delivery excellence and invest in creating differentiated capabilities, talent, and platforms. The strength of our deal wins positions us strongly for a year of solid growth.” R. Srikrishna, CEO of Hexaware said.
With AI now core to every service offering, Hexaware claims to be helping its clients modernise operations, transform platforms, and build new AI systems.
To this, Vikash Jain, CFO of Hexaware, added, “Despite the economic uncertainty, we have not only sustained our growth trajectory but also expanded our margins by 117 basis points YoY and 41 bps QoQ. ”
Hexaware’s AI-driven approach enabled significant growth across clients and capabilities in Q1CY25, securing several major deals.
These include modernising the grants management system for a global financial institution, transforming finance and HR platforms for a European financial firm, and building AI-driven settlement platforms for a global travel analytics company.
The company now has three customers contributing over $75 million in revenue each, with one crossing the $100 million mark. Though, direct revenue from generative AI deals was not revealed.
Hexaware closed the quarter with 31,564 employees. Voluntary attrition in its IT services division stood at 11.2%, while the utilisation rate for IT professionals was 82.1%. Attrition for most of the Indian IT firms stood between 10% and 15% for the quarter.Hexaware’s comparatively strong revenue growth follows the trend of the quarter where small and mid-sized IT firms like Persistent Systems, LTTS, and MPhasis, are outpacing their larger counterparts like Infosys, TCS, and Wipro.
