NYSE –listed WNS (Holdings) has reported a 139.2 per cent rise in consolidated net profit for the first quarter ended June 30, 2013 riding on the back of a weak rupee and increased revenues.

The back-office company’s net profit stood at $6.7 million as against $2.8 million in the same quarter a year ago. Revenues rose by 13.3 per cent to $122.1 million ($107.8 million).

“We believe that as the year progresses and revenues increase, the company will be able to leverage the investments made over the past few years to drive expanding margins and profits…We remain comfortable with the environment in which we are currently operating,” Keshav Murugesh, WNS's Chief Executive Officer, said in a press statement.

The company has upped its guidance for the full-year ending March 31, 2014. Thanks to the rupee appreciation, the company now expects its adjusted net income for the fiscal to be in the range of $66-70 million as against its previous guidance of $59-63 million. Its revenue guidance is almost unchanged.

“Consistent with the company's guidance philosophy, our updated forecast for fiscal 2014 is based on current visibility levels and exchange rates. We are committed to funding our strategic investment programmes while driving metrics-based, operational improvements across the organisation,” said Deepak Sogani, Chief Financial Officer.

> adith.charlie@thehindu.co.in

Related Topics