Companies

WNS Q2 net rises 15.7 per cent to $28.7 million

Our Bureau Mumbai | Updated on October 18, 2019 Published on October 18, 2019

Keshav Murugesh, Group CEO, WNS Global Services and Chairman, Nasscom

WNS has posted a consolidated net profit of $28.7 million for the second quarter ended September 30, a 15.72 per cent rise from $24.8 million recorded during the same period a year ago. This compares with a net profit of $27.6 million recorded in the sequential quarter ended June 30.

The NYSE-listed Business Process Management (BPM) firm’s revenue rose 13.6 per cent to $226.2 million from $199.1 million during the second quarter of last year. The revenue rose 5.4 per cent from $214.6 million recorded in sequential June quarter, WNS said in a statement.

WNS has a global employee count of 42,602 as of September 30, of which the Indian headcount stood at 27,177.

The year-on-year profit was driven by revenue growth, higher operating margin and a lower effective tax rate. Sequentially, profit increased as revenue growth and a lower effective tax rate more than offset lower operating margins including higher share-based compensation expense, it said.

Keshav Murugesh, Chief Executive Officer said: “Our financial performance continues to reinforce WNS’s differentiated positioning in the BPM space, and our ability to execute. In the fiscal second quarter, revenue less repair payments grew 13 per cent year-over-year on both a reported and constant currency basis.”

The company’s Q2 adjusted net income stood at $40.6 million, up $6.9 million from the same period of last year and up $3 million from the sequential quarter.

Published on October 18, 2019
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