WNS Q1 results: WNS Q1 results: Net profit zooms 81% to $27 mn, revenue rises 22%

NEW DELHI: Global business process management company WNS on Thursday reported an 81 per cent rise in net profit year-on-year to $26.8 million compared to $14.8 million in Q1 of last year. Its revenues rose 22 per cent YoY to $253.2 million as against $207.8 million in Q1 of last year.

The company ended with $311.3 million in cash and investments. Hiring for the firm, too, accelerated in support of both new wins and committed volume increases with existing clients, adding nearly 3,000 employees during Q1.

The company also raised the guidance for FY22. It expects the net revenue to be between $961 million and $1,009 million, up from $868.7 million in FY21.

“Despite Covid-related challenges in the quarter, WNS continued to perform well and posted solid financial results. Hiring accelerated in support of both new wins and committed volume increases with existing clients,” said Keshav R Murugesh, Group CEO of the company.

“We continue to see healthy momentum in the BPM space, driven by increasing demand for digital transformation, advanced analytics and cost reduction,” he added.

The company said it managed to report adjusted operating margins of 21 per cent despite Covid-related margin pressure.