EXL Q2 net profit up 35% at $16.3 mn

BPO firm ExlService Holdings saw its net profit for the June quarter rise over 35 per cent to USD 16.3 million, on growth in strong client wins in healthcare and banking & financial services verticals.
The Nasdaq-listed firm had posted a net profit of USD 12 million in the second quarter of last year, EXL said in a statement.
"EXL achieved strong second quarter results led by healthcare and banking and financial services through new strategic deal wins and the expansion of existing client relationships," EXL Vice Chairman and CEO Rohit Kapoor said.
The company's revenues for the said quarter stood at USD 170.5 million compared to USD 155.6 million for the same quarter last year, up 9.5 per cent.

EXL slashed its revenue guidance for 2016 to USD 691 million - USD 703 million, representing an annual growth of 12-14 per cent in constant currency to reflect the impact of currency movements in the second half of the year.
The company had earlier forecast its revenues for 2016 to be in the range of USD 694 million - USD 706 million.

"Growth remains strong in both of our business segments; analytics continued its momentum with 30 per cent year-over- year growth as clients across our verticals continue to leverage our insights and proven proprietary models to grow revenue, manage risk and compliance, identify and mitigate fraud, and improve profitability," he said.

The company's Operations Management revenues for the quarter ended June 30, 2016 were USD 130.9 million, while that from analytics stood at USD 39.6 million in the said quarter.
The company won seven new clients during the second quarter.