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WNS Q3 profit beats forecasts; narrows year revenue outlook range

WNS Q3 profit beats forecasts; narrows year revenue outlook range
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First Published: Tue, Jan 18 2011. 06 51 PM IST
Updated: Tue, Jan 18 2011. 06 51 PM IST
Bangalore: Indian back-office firm WNS Holdings Ltd posted a better-than-expected quarterly profit, helped by cost cuts, and narrowed its full-year revenue forecast range.
The Mumbai-based company now sees full-year adjusted revenue of $367-$370 million, compared with its previous outlook of $363-$378 million.
Analysts on average expect WNS to post revenue of $370.95 million for the full year, according to Thomson Reuters I/B/E/S.
WNS sees full-year 2011 adjusted net income to range $44-$47 million.
For October-December, the company reported earnings of 33 cents per ADS on revenue of $92.7 million, after adjusting for repair payments.
Analysts expected WNS, which competes with Genpact, Firstsource Solutions and ExlService, to report earnings of 31 cents per ADS, on revenue of $93.1 million.
In the third quarter, selling, general and administrative expenses as a percentage of revenue fell to 13.2% compared with 14.1% last year, the company said.
Shares of WNS, which have risen 12% since it posted its second-quarter results on 27 October, closed at $11.85 on Friday on the New York Stock Exchange.
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First Published: Tue, Jan 18 2011. 06 51 PM IST
More Topics: Company Results | WNS | Income | Revenue | Earnings |