Business Daily from THE HINDU group of publications
Thursday, Nov 05, 2009
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Business Daily from THE HINDU group of publications Thursday, Nov 05, 2009 ePaper | Mobile/PDA Version | Audio | Blogs |
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Info-Tech
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Financial Performance Corporate Results - Outsourcing BPO firm WNS posts 16% rise in net income Our Bureau Mumbai, Nov. 4 Back-office firm WNS Holdings Ltd on Wednesday reported a 15.6 per cent rise in quarterly adjusted net income for the period ended September 30. The primary drivers of this increase were tighter cost management, improved scale benefits and increased profits from the company’s previous acquisitions, according to a press statement. It reported a net income of $13.7 million against $11.9 million in the same quarter a year ago. Revenues were up by 2.1 per cent to $153 million ($149.8 million) “We had a healthy quarter from a revenue and profitability standpoint and we are on track to beat the top end of our original fiscal 2010 guidance on both metrics,” said Mr Neeraj Bhargava, Group Chief Executive Officer. “We see the market improving and growing acknowledgment of our global BPO capabilities,” he added. For the fiscal year ending March 2010, the NYSE-listed company expects net income to the tune of $52 million on revenues of $390 million. However, the company continues to see volatility in the exchange rates and volume pressure in its travel and insurance-related businesses. More Stories on : Financial Performance | Outsourcing
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