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Business process management and technology services firm Genpact on Thursday reported a decline of 47.5 per cent in its net profit to $25 million for the third quarter ended September 30, 2012.
The New York Stock Exchange listed company’s net profit in the corresponding period last year was $48 million.
The company said that the third quarter 2012 net income and margin reflected the impact of a foreign exchange re-measurement loss as well as expenses related to special cash dividend, associated debt refinancing and withholding taxes and the sale of shares by its original sponsors.
However, Genpact’s revenues were up 14.3 per cent at $491.2 million in the quarter compared with $429.6 million in the third quarter of 2011.
“We returned capital to shareholders in the third quarter in the form of a special cash dividend of $2.24 per share and facilitated the sale of shares by our original sponsors. We believe both these events are extremely positive for shareholders,” NV ‘Tiger’ Tyagarajan, President and Chief Executive Officer, Genpact, said.
On the outlook, he said that the company remains cautious about the global economy in the near term and thus continue to expect full-year revenues of $1.86-$1.9 billion, and adjusted operating income margin of 16-16.5 per cent.
ronendrasingh.s@thehhindu.co.in
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