WNS net rises 35% at $16.5 mn

Revenue jumps 7% at $136 mn in October-December this fiscal

Business process outsourcing firm WNS on Thursday reported a 35 per cent jump in consolidated net profit at $16.5 million for the third quarter ended December 31, helped by large client additions. The NYSE-listed firm had posted a net profit of $12.2 million in the year-ago period, it stated.

Consolidated revenue rose seven per cent at $136 million in October-December this fiscal from $127.1 million in the same quarter of 2013-14.

The figures are on GAAP basis. WNS also said that it would repurchase up to 1.1 million shares, which would cost the firm up to $33 million.

Commenting on the performance, WNS chief executive officer Keshav Murugesh said: "During the third quarter, the company grew top line, expanded margins and profit and delivered healthy free cash flow. We also added five new logos to our client roster, and signed two new large deals."

The demand environment for BPM (Business Process Management) services remains stable and healthy, as WNS continues to deliver solid financial and operating results, he added.

In a separate statement, WNS said: "Board of Directors has authorised a programme to repurchase up to 1.1 million American Depositary Shares (ADSs), each representing one ordinary share, at a price range of $10-30 per ADS."

The share repurchase programme is subject to shareholder approval. WNS intends to convene an extraordinary general meeting of its shareholders in the fourth quarter of financial year 2015, it added.