Startek Dec-qtr loss narrows to USD 5.2 mn

BPO firm Startek on Friday reported narrowing of its loss to USD 5.2 million for the quarter ended December 2019.

The company had posted a loss of USD 7.6 million in the same period a year ago.

The NYSE-listed firm posted 8 per cent increase in net revenue at USD 171.6 million during the reported quarter, compared to USD 158.6 million in the corresponding period of 2018-19.

"2019 marked our first full year as a combined company since the business combination with Aegis, and our exceptional fourth quarter results reflect the strength of our now fully integrated company," Startek Executive Chairman and CEO Aparup Sengupta said in a statement.

North America contributed around 40 per cent of the total business, followed by Europe, Middle East and Africa (23 per cent), India and Sri Lanka (17 per cent) and Asia Pacific with Australia-New Zealand (13 per cent). South America's contribution stood at around 7 per cent.

During the reported quarter, Startek posted operational profit of USD 453,000 compared to a loss of USD 1.3 million a year ago.

"We delivered on multiple key initiatives over the last year, including execution of our client diversification strategy with high-growth companies, implementing a lean and efficient cost structure across our global operations, and expanding our service offerings to include higher margin digital solutions," Sengupta said.