WNS posts Q2 profit of 1 cent a share

WNS posts Q2 profit of 1 cent a share

Bangalore: Back-office firm WNS (Holdings) Ltd posted a better -than-expected quarterly profit, but cut its revenue outlook for the full year, citing the recent strengthening of the dollar against the pound.

WNS, which draws about half its business from British and European operations, now expects revenue, less repair payments, between $385 million (Rs1,879 crore) to $400 million. It had previously forecast revenue of between $425 million and $435 million.

Analysts were expecting the company to post revenue of $424.2 million for the year on the same basis.

For the second quarter, however, the company earned $227,000, or 1 cent a share, compared with a loss of $10.5 million, or 25 cents a share, a year ago.

Excluding items, the company earned 28 cents a share.

Total revenue grew 30% to $149.8 million, while revenue, less repair payments, increased by 52% to $109 million.

Analysts on average were expecting earnings of 21 cents a share on revenue of $104 million, according to Reuters estimates.

Shares of the Mumbai-based WNS, which is majority-owned by buyout firm Warburg Pincus, closed at $9.47 on the New York Stock Exchange on Wednesday.