WNS Holdings Q4 net profit at $8.2 million
BPO services provider WNS Holdings today reported a net profit of $ 8.2 million for the fourth quarter ended March 31, 2013.
By PTI | Updated:
MUMBAI: BPO services provider WNS Holdings today reported a net profit of $ 8.2 million for the fourth quarter ended March 31, 2013.
As per the general accounting standards, the company had a net profit of $ 4.4 million in the same period of previous fiscal, WNS said in a statement.
Revenues increased to $ 119.2 million in the quarter to March from $ 113.3 million in the year-ago period, a rise of 5.2 per cent, it added.
For 2012-13, the company's profit stood at $ 21.4 million, up from $ 12.5 million in the previous fiscal.
Revenue dipped 2.9 per cent to $ 460.3 million in reported fiscal, from $ 474.1 million in 2011-12 (primarily due to change in contract terms for repair payments).
In 2011-12, WNS re-negotiated contracts with certain clients and repair centres in the auto claims business, whereby the primary responsibility for providing the services is borne by the repair centres instead of WNS.
Looking ahead, WNS expects revenue less repair payments to be between $ 460 million and $ 480 million FY2013-14, while adjusted net profit is expected in the range of $ 59 million to $ 63 million.
"As we enter fiscal 2014, the demand environment for BPO is stable and healthy. While ongoing investments will be required to capitalise on the long-term BPO growth trends, WNS believes that by successfully executing on our key strategies we will be able to grow revenue at or above industry rates and expand our margins," Chief Executive Keshav Murugesh said.
During Q4, the New York Stock Exchange-listed company added seven new clients and expanded five existing relationships.
"While currency headwinds muted our reported Q4 revenues, we continued to make progress adding new clients and strengthening our existing relationships during the quarter. Both financially and operationally, fiscal 2013 represented a solid step forward for WNS," he said.
WNS said the revenue improvement was broad-based, with particular strength in emerging verticals like utilities, retail and consumer packaged goods, as well traditional ones like banking, financial services and insurance.
As on March 31, WNS global headcount stood at 25,520.
As per the general accounting standards, the company had a net profit of $ 4.4 million in the same period of previous fiscal, WNS said in a statement.
Revenues increased to $ 119.2 million in the quarter to March from $ 113.3 million in the year-ago period, a rise of 5.2 per cent, it added.
For 2012-13, the company's profit stood at $ 21.4 million, up from $ 12.5 million in the previous fiscal.
Revenue dipped 2.9 per cent to $ 460.3 million in reported fiscal, from $ 474.1 million in 2011-12 (primarily due to change in contract terms for repair payments).
In 2011-12, WNS re-negotiated contracts with certain clients and repair centres in the auto claims business, whereby the primary responsibility for providing the services is borne by the repair centres instead of WNS.
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Looking ahead, WNS expects revenue less repair payments to be between $ 460 million and $ 480 million FY2013-14, while adjusted net profit is expected in the range of $ 59 million to $ 63 million.
"As we enter fiscal 2014, the demand environment for BPO is stable and healthy. While ongoing investments will be required to capitalise on the long-term BPO growth trends, WNS believes that by successfully executing on our key strategies we will be able to grow revenue at or above industry rates and expand our margins," Chief Executive Keshav Murugesh said.
During Q4, the New York Stock Exchange-listed company added seven new clients and expanded five existing relationships.
"While currency headwinds muted our reported Q4 revenues, we continued to make progress adding new clients and strengthening our existing relationships during the quarter. Both financially and operationally, fiscal 2013 represented a solid step forward for WNS," he said.
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WNS said the revenue improvement was broad-based, with particular strength in emerging verticals like utilities, retail and consumer packaged goods, as well traditional ones like banking, financial services and insurance.
As on March 31, WNS global headcount stood at 25,520.
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