This midcap IT company has done well for Q1FY15.  In US$, revenue grew 20% (YoY) and 6% (QoQ) though net profit declined 12% (YoY) but rose 37% sequentially. In rupee terms, revenue grew 30% (YoY) and over 2% (QoQ) at Rs.843 crore. Net profit showed a growth of 31% QoQ though a decline of 4% YoY (due to forex loss in Q1) at Rs.129 crore. The company had a forex gain in current quarter at Rs.14 crore v/s loss of Rs.43 crore in Q4.

Operating margin during current Q1 was at 20.4%, down 150 bps QoQ. As at 30^th June 2014, the company had 206 active clients. It added 516 employees during the quarter, taking the total employee tally to 12,845. Attrition was at 14.2% and this has gone up from 12.7% in Q4 and 11.6% in Q3.

The company has cautioned that revenue growth in current Q2 might be lower than Q1, yet it is confident of beating industry body Nasscom’s revenue growth guidance of 13-15% for the IT services sector in FY15.