WNS posts over 80 pc profit growth in June quarter

Business process management services provider WNS today said its net profit grew over 80 per cent to USD 12.1 million for the first quarter ended June 30, 2014.
The NYSE-listed company has posted a net profit of USD 6.7 million in the year-ago period, it said in a statement.
Revenues were up by 7.3 per cent to USD 131 million in the April-June 2015 quarter from USD 122.1 million in the same quarter of 2013-14 fiscal, it added.
"We are encouraged by the start to our fiscal year. While revenue in the first quarter was adversely impacted by the online travel client ramp-down and headwinds from the proposed contract extension with a major client, we continued to make solid progress in our underlying business," WNS CEO Keshav Murugesh said.

Its revenue (less repair payments) stood at USD 122.1 million, up 7.3 per cent from USD 113.8 million in Q1 2013.
In 2011-12, WNS re-negotiated contracts with certain clients and repair centres in the auto claims business, whereby the primary responsibility for providing the services is borne by the repair centres instead of WNS.

The firm expects its revenue (less repair payments) to be between USD 501 million and USD 528 million in fiscal 2015, up from USD 471.5 million in fiscal 2014.
"Our revised guidance for the year reflects top line growth of 6-12 per cent," WNS CFO Sanjay Puria said.

WNS added six new clients and signed two new large deals in the said quarter.
"The pipeline remains strong for both hunting and farming opportunities, and we continue to target closure of at least six large deals in fiscal 2015," he said.
Murugesh added that the company's deep domain expertise, vertical approach and client-centric model is resonating well with both existing clients and new prospects.
WNS had posted a net profit of USD 13.4 million and had reported revenues of USD 130.3 million in Q4 of 2013-14.
The company's global headcount stood at 27,760 as of June 30, 2014.