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WNS net profit up 80.6%

Business Process Management (BPM) company WNS reported an 80.6% increase in net profit to $26.8 million in the fiscal first quarter, while revenue rose 21.9% at $253.2 million.

The company said full-year revenue is expected to be between $961 million and $1.01 billion, up from $868.7 million in the previous financial year.

“Despite Covid-related challenges in the quarter, WNS continued to perform well and post solid financial results,” said Keshav Murugesh, Group CEO, WNS.

Hiring accelerated in support of both new wins and committed volume increases with existing clients, with the company adding almost 3,000 employees during the quarter. Global headcount increased to 46,918 as of June 30. The company signed on seven new clients and expanded 17 existing relationships during the quarter.

WNS posted strong adjusted operating margins of 20.8% despite Covid-related margin pressure, he added.

“We continue to see healthy momentum in the BPM space, driven by increasing demand for digital transformation, advanced analytics and cost reduction. The transition of our business from “outsourcing” to “automating and transforming” is not only helping our services become more mainstream, but is also expanding our addressable market,” said Murugesh.

The company is currently working on vaccinating employees and their families in India and has administered over 8,000 doses so far. It will now expand this across its global network, WNS said.

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