The Hindu Business Line : WNS net dips 60%

Mumbai, Aug. 14 Pure play BPO firm WNS Holdings has reported a 60.4 per cent dip in its consolidated net income to $3.3 million from $8.4 million reported in the same quarter a year ago.

This decrease was primarily due to the impact on amortisation from acquisitions made during the quarter, foreign exchange losses from hedging contracts and lower interest income, according to a statement issued by the company, here on Thursday.

On the other hand, revenues have increased by 9.3 per cent to $122.9 million (from $112.52 million). “Our adjusted operating margins this quarter were approximately 12 per cent. We expect margin improvement and a greater impact to our earnings as the acquisitions that we completed during this quarter become fully integrated. As our current hedges start to unwind at the beginning of the fourth quarter of fiscal 2009, we expect increased margins to flow to our bottom line,” said Mr Alok Misra, Group Chief Financial Officer.

In the quarter-gone bye, WNS acquired Chang Ltd., the holding company of Call 24/7 Ltd and BizAps, a provider of SAP solutions.

For the fiscal year ending March 31, 2009, the company has re-affirmed its net profits to be between $46 million and $49 million.

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