New Delhi: Genpact Ltd on Thursday said net profit gained 21.3% to $46.7 million in the three months ended March compared with the year-earlier period. Revenue rose 15.7% to $503.8 million and India’s largest business process outsourcing firm maintained operating margins at 16.4%.
add_main_image“Genpact’s first-quarter results included solid growth in revenues, adjusted operating income and cash flow from operations,” president and chief executive officer N.V. Tyagarajan said. “We have had a good start to 2013 with another quarter of consistent growth for Genpact.”
Revenue from General Electric Co., Genpact’s largest client, grew an annual 1% to contribute around 23% of the company’s earnings. Revenue from other clients grew by 21%, with significant expansion coming from customers in consumer goods, life sciences, insurance and banking and financial services sectors, the firm said. NextMAds
Genpact expects revenue in 2013 to be in the range of $2.15-2.20 billion and adjusted operating income margin in a range between 15.8% and 16.3%.
“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,” Tyagarajan said.
Genpact generated $31.5 million of cash from operations in the March quarter, 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 as on 31 March.
