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WNS Q4 net profit jumps to $5.2 million

BPO service provider WNS Holdings on Tuesday reported a jump of five-folds in its net income to $5.2 million (about Rs 23 crore) for the fourth quarter ended March 31, 2011, buoyed by new client additions and a stronger British pound.

twitter-logo PTI        Last Updated: April 20, 2011  | 20:28 IST

BPO service provider WNS Holdings on Tuesday reported a jump of five-folds in its net income to $5.2 million (about Rs 23 crore) for the fourth quarter ended March 31, 2011, buoyed by new client additions and a stronger British pound.

As per the General accounting standards, the company had a net income of $1 million in the same period previous fiscal, WNS said in a statement.

The company's revenues increased to $159.5 million in the quarter to March, 2011 from $157.6 million in the year-ago period, a gain of 1.2 per cent.

"The increase in revenue was a result of higher volumes in the travel and insurance business due to seasonality, the ramp ups of new clients and a stronger British Pound," the statement added.

"Our profitability and cash generation has been strong and, as a result, we delivered results at the top end of our revenue guidance range for this fiscal.

Given our growth trajectory and the fact that we refinanced our debt and reduced our interest cost in this last fiscal, we believe we are well-positioned in terms of cash flow for fiscal 2012," WNS Group Chief Financial Officer Alok Misra said.

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As on March 31, 2011, global headcount stood at 21,523.

Looking ahead, the company expects revenue to be between $383 million and $407 million for the FY12, while net income is expected in the range of $43 million to $47 million.

"Our Adjusted Net Income (ANI) guidance for fiscal 2012 factors in a higher tax charge of about $11 million to $13 million, as the STPI tax holiday has gone away.

We have, however, been able to maintain our overall profit levels despite this, as a result of the expansion in the business and the improved pre-tax profits," Misra added.


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