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Offshore BPO company Genpact has posted a 40 per cent rise in net profit at $39 million for the second quarter ended June 30, 2011. The company did not change its full-year revenue guidance of 23-25 per cent growth but said it expects to end the fiscal at higher end of the band in spite of global macro-economic concerns.
“There is no direct impact (of the macro economic environment) on our growth or outlook, although yes, the world is a little uncertain since something new is coming up everyday,” Mr NV Tyagarajan, President and CEO of Genpact, told Business Line .
But Mr Tyagarajan said that while demand in the US continued as expected, some bit of softness had crept-in in the retail consumer lending and retail consumer finance collections space. “It is offset by the traction in Europe, and Asia Pacific, and our diversified portfolio ranging from pharma and retail, to capital markets,” he said.
Genpact's revenues stood at $398 million in second quarter, 29 per cent higher than the year ago period. Revenues from global clients (clients other than GE) were up 44 per cent and business process management revenues from global clients rose 24 per cent. Share of BPO business in the overall company revenue basket dropped to 78 per cent.
Genpact said it has increased the number of clients contributing $1-5 million in annual revenues to 103 (including 25 from Headstrong, which it acquired recently), from 52 in the prior-year quarter.
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