WNS reports 7.4% jump in Q4 revenue at $135 million

WNS (Holdings) Ltd, a provider of global Business Process Management (BPM) services, today said its revenue stood at USD 135.3 million in the fourth quarter ended March 31, up 7.4 per cent from USD 126.1 million posted in the same period of last year.
Adjusted net income (ANI) stood at USD 26.9 million compared to USD 22.9 million in Q4 of last year.
"Our fiscal fourth quarter results were once again solid despite ongoing top line pressures driven by depreciation in key revenue currencies against the US dollar," WNS CEO Keshav Murugesh said at a conference call here.
For the quarter, net revenue came in at USD 135.3 million, representing a year-over-year increase of 7.4 per cent on a reported basis and 12.7 per cent constant currency.

Sequentially, reported revenue was down 0.4 per cent, but increased 2.8 per cent on a constant currency basis.
In Q4, WNS added eight new clients, expanded nine existing relationships and renewed 15 contracts. Adjusted operating and net profit margins remained healthy at 22 per cent and 19.9 per cent respectively, he said.

In March, WNS announced the acquisition of Value Edge Services, a provider of commercial research and analytics services to the pharmaceutical industry. This asset gives WNS consulting grade marketing and data analytics capabilities, a cloud-based advanced technology platform for competitive intelligence, and a blue-chip roster of clients.
"We believe this tuck-in acquisition strengthens our capabilities and domain expertise in the pharma space. WNS also received further validation of our capabilities in this sub-vertical with the extension of our high-end research and analytics contract with GlaxoSmithKline through the end of 2020," Murugesh said.

"The company has provided initial forecast for fiscal 2017 based on current visibility levels and exchange rates," WNS Chief Financial Officer said Sanjay Puria said.
"Consistent with our guidance methodology, we enter fiscal 2017 with 90 per cent visibility to the midpoint of the range. For the year, we expect capital expenditures to be in the range of USD 22 million to USD 25 million.