Business process management and technology services provider Genpact on Thursday reported a net income of $46.7 million for the first quarter ended March 31, up 21 per cent from $38.5 million in the corresponding quarter last year.

Net income margin stood at 9.3 per cent against 8.9 per cent, the company said in a statement.

Revenues were also up 15.7 per cent at $503.8 million against $435.5 million. 

For the full year, the company expects revenues to be in the range of $2.15-$2.2 billion, and adjusted operating income margin in the range of 15.8-16.3 per cent, it said.

“While we continue to remain cautious, as are many of our clients, about the global economy in the near-term, we do see signs of improvement, and we are bullish about the long-term,” N.V. Tyagarajan, President and Chief Executive Officer, Genpact, said.

Revenues from global clients represented around 77 per cent of Genpact’s total revenues (or $387 million), with the remaining 23 per cent of revenues (or $117 million) coming from GE.

As of March 31, 2013 Genpact generated $31.5 million of cash from operations, up from $4.9 million in the first quarter of 2012. The company had around $493 million in cash and cash equivalents and short-term deposits.

It had 60,200 employees worldwide as of March 31, 2013 compared with 56,500 as of March 31, 2012.

Attrition rate for the quarter was 24 per cent, measured from day one of employment, compared with 23 per cent during the same period in 2012.

Annualised revenue per employee was $34,500, up from $32,200 for the three months ended March 31, it added.

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