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| WNS net income up 15.6% to $13.7 million |
| BS Reporter / Mumbai Nov 05, 2009, 00:28 IST |
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India’s second-largest business process outsourcing company, WNS, posted a net income of $13.7 million for the second quarter ended September 30, up 15.6 per cent from $11.9 million in the corresponding quarter in the last financial year.
Revenue for the quarter rose 2.2 per cent to $153 million from $149.8 million in the same quarter last year. On a sequential basis (quarter-on-quarter), the company’s net income increased 8.7 per cent from $12.6 million, while revenue rose 12 per cent from $136.7 million.
“We had a healthy quarter from a revenue and profitability standpoint and we are on track to beat the top-end of our original 2009-10 guidance on both metrics. We see the market improving and growing acknowledgment of our global BPO capabilities,” Group CEO Neeraj Bhargava said.
The company reaffirmed its guidance for the full year and said it is well-positioned to beat the top end of the guidance range. It had guided for revenue to be $390 million and net income to be $52 million.
WNS’ revenue less repair payments declined 8.1 per cent on a year-on-year basis to $100 million in the reporting quarter, because of the weakening of the British pound compared with the US dollar and the second-year pricing terms of the Aviva Global Services contract.
The quarter had forex losses of $3.2 million. It also saw some impact due to the price reduction in the Aviva contract.
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