The Hindu Business Line : Genpact Q2 net income up at $7.1 m

Business process outsourcing (BPO) firm Genpact Ltd has registered one per cent year-on-year increase in its net income for the second quarter ended June 30, 2007 at $7.1 million.

“Second quarter net income was $7.1 m, up one per cent from the second quarter of 2006 and 284 per cent from the first quarter of 2007; net income margin was four per cent, down from five per cent in the second quarter of 2006 due to global taxes which are now being eliminated as a result of changes in the holding structure post-IPO,” a Genpact statement said here.

Revenues up 42%

The company’s second quarter revenue, at $200.5 m, was up 42 per cent over the same period the previous year and 14 per cent from the first quarter of 2007.

“Increasing globalisation of the world economy, as well as a growing shortage of labour in developed markets helped the global BPO and IT services industry continue to show strong growth,” the Genpact President and CEO, Mr Pramod Bhasin, said.

The company, Mr Bhasin said, saw particularly strong growth in operations in Europe, and Asia Pacific especially China.

Global clients revenues grew at 144 per cent in the second quarter compared to the year-ago period, while for the first half of 2007, the revenues grew at 146 per cent compared to the first half of 2006.

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