BPO major WNS Holdings on Thursday posted a profit of $0.7 million in the first quarter of FY12 as against a loss of $5.8 million in the same quarter last year.
"Over the last five quarters, we have focused on the execution of our strategy to grow revenues and enhance margins, and we believe the strong first quarter results reflect those efforts," WNS Group Chief Executive Officer Keshav Murugesh said in a statement.
The profit is, however, lower on sequential basis. WNS had a profit of $8.8 million in Q4 FY'11 as per Generally Accepted Accounting Principles (GAAP) accounting standards.
The revenue for the reported quarter stood at $125.7 million, down 16.2 per cent from the same quarter last year and down 21.2 per cent q-o-q.
During this quarter, WNS re-negotiated contracts with some of its clients and repair centers in the Auto Claims business, whereby the significant risk of services and the credit risk is now borne by these clients instead of WNS.