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WNS Q3 profit up 8% at $30.9 million

New Delhi: Business process management (BPM) major WNS Holdings on Thursday reported over 8 per cent rise in net profit to USD 30.9 million for December 2019 quarter.

As per the general accounting standards, the company had registered a net profit of USD 28.6 million in the same quarter last year, WNS said in a statement.

The company’s revenues increased by 19.7 per cent to USD 239.2 million in the quarter under review, from USD 199.7 million in the year-ago period, it added.

“Year-over-year, fiscal Q3 revenue improvement was broad-based across several key verticals, services, and geographies,” WNS said in a statement.

It added that on sequential basis, revenue strength was driven by healthy growth with both new and existing clients, and favourable currency impacts net of hedging.

“WNS’ differentiated capabilities in the BPM marketplace are resonating well with both existing and prospective clients, enabling the company to continue delivering solid financial and operating results,” WNS CEO Keshav Murugesh said.

He added that the company remains focused on enhancing its ability to “co-create” unique, industry-specific solutions which enable its clients to improve their competitive positioning.

“To do this, we will continue to invest in technology, transformation, analytics, and domain to insure we remain relevant today and in the future. Our focus remains on the long-term BPM opportunity, and on superior execution which will enable value creation for all our key stakeholders,” he said.

WNS posted revenue less repair payments of USD 228.2 million, up 16.5 per cent from USD 195.9 million in the December quarter last year.

It now expects its revenue less repair payments to be between USD 890 million and USD 900 million, up from USD 794 million in fiscal 2019.

WNS ended the third quarter with USD 280.1 million in cash and investments and USD 47.5 million of debt.

Source: Economic Times