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Shares of Hexaware Technologies jumped 5% on Friday after it signed a multi-year partnership with Anthropic. Under the deal, Hexaware will become a Preferred Partner in Anthropic’s Claude Partner Network.
What’s going on: Hexaware will integrate Claude into two of its platforms: Zerovity, which uses AI to help build and update software, and AgentVerse, which helps businesses build and manage AI agents. AgentVerse has more than 600 ready-made agents designed to carry out specific tasks.
Hexaware will use Claude across IT operations and software development, offering services linked to agreed results.
The company has more than 1,100 Claude-certified professionals. The two companies will also develop solutions together, market them to customers and help businesses put them to use.
What the two platforms do: Zerovity could help a bank update its older software by using AI to review code, test it and assist with development. This could reduce the time and manual effort needed to complete projects.
AgentVerse could help businesses automate tasks such as processing documents, handling customer queries and checking compliance.
The numbers:
At first glance, the numbers show strong revenue growth and a sharp rise in operating profit measured in rupees.But two details deserve a closer look.
First, currency movements boosted reported growth. Revenue rose 17.9% in rupee terms, but only 6.1% in US dollar terms. After removing the effect of exchange rate changes, revenue grew 6.3%.
That means the underlying business grew more slowly than the rupee figures suggest.
Second, Hexaware earned less operating profit for every ₹100 of revenue, even though its total operating profit rose. Its EBIT margin fell by 1.02 percentage points year-on-year to 13.6%.
The Anthropic partnership could help Hexaware deliver projects more efficiently. The test will be whether those gains improve margins after accounting for the added cost of AI.
