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Business process management firm WNS has posted a consolidated net profit of $27.5 million for the fourth quarter ended March 31, down 7.27 per cent from $29.5 million recorded in the same quarter a year ago.
During the quarter under review, the company’s adjusted net income (ANI) dipped to $36.7 million, compared to $42.4 million recorded in the same three-month period of last year, and $41 million posted in the sequential third quarter, the company said in a statement.
The NYSE-listed firm’s revenue (less repair payments) stood at $228.3 million, down 3.2 per cent from $235.8 million in fourth quarter of last year and up 1.7 per cent from $224.5 million recorded in December quarter.
For the financial year ended March 31, WNS posted a consolidated net profit of $102.6 million ($116.8 million in previous year), while its ANI fell to $141.7 million ($161.4 million) on revenue (less repair payments) of $868.7 million ($896.2 million).
Keshav R. Murugesh, Group Chief Executive Officer of WNS, said, “While our full year results were adversely impacted by the global pandemic, we are pleased with our overall execution in a very difficult environment and our business momentum exiting the fiscal year”.
The company’s global headcount stood at 43,997 as of March 31, of which Indian headcount was at 28,545 and percentage of revenue from India delivery centres stood at 53.4 per cent. The company ended the fourth quarter with $395.2 million in cash and investments.
“In fiscal 2022, our investment approach will also look to leverage our strong balance sheet via capability-based tuck-in acquisitions. WNS will continue to invest in core areas such as digital solutions, hyper-automation, advanced analytics and domain expertise. These investments will include internal R&D efforts, strategic partnerships, specialised hiring and employee training,” Murugesh added.
Outlook
For fiscal 2022, WNS is expecting to post revenue less repair payments of between $945 million and $997 million, and ANI in the range of $152-164 million.
“We currently have 90 per cent visibility to the mid-point of the range, consistent with April guidance in previous years. For the year, we expect capital expenditures of up to $35 million,” WNS Chief Financial Officer Sanjay Puria said.
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