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Hexaware to see business impact in Q1-Q2 on account of Covid-19

Pune: IT services and products company Hexaware Technologies stated that certain industry verticals can be impacted over the next two quarters because of the Covid-19 pandemic, but it surely was once too early to comment on whether or not it would alternate its steering for FY20. The corporate follows a Jan-Dec monetary yr, and CEO R Srikrishna stated that verticals like travel and transportation and consumer, to a lesser extent, can be impacted in Q1 and Q2. Speaking at an investor name on Tuesday, Srikrishna stated that within the medium term, they expected a good have an effect on from this case as the call for for Cloud based totally solutions and automation will increase. “This disaster has helped cement buyer relationships and constructed accept as true with and credibility. Once this passes, we will be able to be in a forged position to achieve marketplace proportion,” he stated.

The corporate had transitioned to a work at home model virtually per week sooner than the 21-day national lockdown was once announced. 99% of its IT services and products and 75% (by earnings) of the BPO operations have been lately being run from home, without a have an effect on on shopper delivery.

Apart from travel, the healthcare industry would even be impacted to an extent for the reason that fitness industry had taken a success because of the pandemic. “In many cases, call for will come again by Q2-Q3,” he stated, adding that it is usually a V-shaped restoration for certain businesses. He additionally expects more CX (buyer revel in) initiatives to come back in as soon as the disaster has passed there may be more likely to be an everlasting shift out there in opposition to making transactions and interactions contactless.

The corporate can be paying out its annual dividend as declared previous and that would now not be impacted by this case.

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