Genpact reports 16% drop in profit to $62 million for June quarter

Business process management company Genpact on Friday posted a 16 per cent decline in net income to $62 million in the quarter ended on June 30, 2020.

The company, which has over 65 per cent of workforce in India, had posted a net income of $73.7 million in the same quarter a year ago.

Net revenues of Genpact increased by about 2 per cent during the quarter to $900 million from around $882 million in the corresponding quarter of 2019.

"Our second quarter results were much stronger than expected in light of the unprecedented environment the world is facing. Our performance was driven by incredibly strong execution by our teams on many fronts as well as the resilience of our business model and the strategic choices we have made over many years," Genpact President and CEO Tiger Tyagarajan said in a statement.

The New York Exchange-listed company expects its total revenue for the full year 2020 to be in the range of $3.63 billion to $3.67 billion.