Hexaware Reports Q2 Revenue Growth Amid Strategic AI Expansion

The firm, based in Iselin, New Jersey, reported an EBIT margin of 13.6%, an improvement of 68 basis points sequentially. Despite this operational gain, Profit After Tax (PAT) dropped by 21.1% year-over-year to USD 34.9 million. CEO R. Srikrishna pointed to the company's aggressive AI integration strategy, noting that the firm's AI Labs are now launching a new offering every month to sustain long-term growth.

Operational metrics show a workforce of 34,506 employees, with a net addition of 708 people during the quarter. Utilization rates for IT staff reached 84.8%, while the company successfully expanded its high-value client base, adding one new customer to its USD 20 million-plus category. CFO Vikash Jain emphasized that the quarter was bolstered by the successful go-live of a new internal ERP system, which the company claims has streamlined operations and improved cash conversion. Geographically, the Asia Pacific region led growth with a 24.8% year-over-year revenue increase, significantly outpacing the Americas and Europe.