WNS crosses $800 mn revenue milestone in FY19, profit jumps 22% to $105.4 mn
BusinessToday.In April 25, 2019
WNS, a global business process management company, on Thursday reported 22 per cent year-on-year growth in consolidated profit after tax (PAT) at $105.4 million for the full year ending March 31, 2019. The NYSE-listed company had posted PAT at $86.4 million during the financial year 2017-18. Adjusted Net Income (ANI) jumped 18.6 per cent to $140.4 million in FY19 from $118.4 million in FY18.Total revenue for the fiscal grew by 6.8 per cent to $809.1 million from $758.0 million in the same period last year, helped by higher organic growth and client addition with higher annual contract value. Revenue less repair payments rose by 7.1 per cent to $794.0 million in FY19 from $741.0 million in FY18.
Net profit in the fourth quarter was $29.7 million, as compared to $24.5 million in Q4 of last year, registering a y-o-y growth of 21 per cent. ANI in Q4 was $37.8 million, up $4.9 million as compared to Q4 of last year and down $0.1 million from the previous quarter.
During January-March quarter, revenue stood at $210.5 million versus $202.7 million, representing a 3.8 per cent increase versus Q4 of last year. Revenue less repair payments in the fourth quarter was $206.6 million, an increase of 4.2% year-over-year.
Operating margin increased to 15.3 per cent in Q4 FY19 as compared to 14.5 per cent in Q4 FY18, on the back of favorable currency movements net of hedging, operating leverage on higher volumes, and increased productivity.
Commenting on earnings number, WNS Group CEO Keshav R. Murugesh said, "WNS once again delivered solid operational and financial performance in FY 2019. We grew organic, constant currency revenue by 10%, delivered adjusted operating margin of 21%, grew adjusted diluted earnings per ADS by 20% to $2.69, and increased net cash position by $42.3 million. We added 25 new clients with an average "annual contract value" that was 35% higher than last year. We also expanded 59 existing relationships, the largest number in WNS history."
Looking forward, the company expects revenue less repair payments to be between $854 million and $900 million, up from $794 million in fiscal 2019. ANI is expected to range between $139 million and $151 million versus $140.4 million in fiscal 2019.
As of March 31, 2019, total headcount at WNS stood at approximately 39,898 employees worldwide.
Edited by Chitranjan Kumar