WNS net profit rises 23.5 pc to USD 33.1 mln in June quarter

Business process management player WNS on Thursday reported a 23.5 per cent jump in its net profit at USD 33.1 million in the June quarter.The NYSE-listed company headquartered in the city had reported a net profit of USD 26.8 million in the year-ago period. The cash and investments stood at USD 373.5 million as of June 20, 2022, the statement said.

Business process management player WNS on Thursday reported a 23.5 per cent jump in its net profit at USD 33.1 million in the June quarter.

The NYSE-listed company headquartered in the city had reported a net profit of USD 26.8 million in the year-ago period. However, the latest June quarter profit was down compared to USD 38.89 million in the three-month ended March 2022.

It reported a 16.6 per cent jump in overall revenues at USD 295.3 million, but the same was down 1.2 per cent as compared to USD 298.8 million in the March quarter.

In a statement, the company attributed the revenue growth to new client additions, expansion of existing relationships, and increased travel volumes which more than offset unfavourable currency movements.

It is targeting for the revenue less repair payments, which grew 20 per cent in the first quarter, to grow up to 12.19 per cent to up to USD 1,152 million in FY23 as against USD 1,026.8 million in FY22.

The adjusted net income, which came at USD 45.9 million in the first quarter of FY23, is expected to come up to USD 195 million in FY23 as against USD 174.8 million last year.

''We are not seeing any adverse impacts to our business from a weakened macro environment, and in fact we continue to see strength in our pipeline, deal flow, and business momentum,'' its group chief executive Keshav R Murugesh said.

The company added new clients and expanded its relationships with 30 existing clients during the quarter, as per the statement.

It added over 3,000 people globally to take its headcount to 55,146 as of June 2022. The cash and investments stood at USD 373.5 million as of June 20, 2022, the statement said.