ExlService Q1 net up 10% at $9.8 million

BPO services company maintains 2013 revenue guidance; expects second half to be better

BPO services provider ExlService has posted a little over 10% growth in its net profit at $9.8 million for its financial first quarter ended March 31, 2013 when compared with the corresponding quarter last fiscal.

The revenues for the quarter at $116 million went up by 10.9% to $116 million when compared with the same quarter a year ago.

On a sequential quarter basis, the company’s net profit declined 19.7% and revenues declined by 11.13%.

The Nasdaq-listed company, however, maintained its revenue guidance for the full year and said it was expecting the second half to be better for the company as compared to the first half.

For 2013, the company had earlier given a revenue guidance of $495 million to $505 million, representing a growth of 12 to 14%.
 
“While we have experienced some delays in discretionary project-based spending on the part of clients and prospects, the pipeline remains strong across our businesses. We are encouraged by our progress with both new and existing clients,” said Rohit Kapoor, Vice Chairman and CEO of ExlService.

The company added seven clients during the quarter. IT added 307 people on net basis during to quarter, which took its headcount to 21,356 as of March 31, 2013.