Home >companies >company-results >Genpact December quarter revenue up 7.7% to $601.5 million

New Delhi: Genpact Ltd on Thursday said its income from operations fell 0.98% to $70.9 million in three months ended December, as compared with $71.6 million in the corresponding quarter last year.

Revenues were up 7.7% to $601.5 million in the reporting quarter, from $558.5 million a year ago.

For the year 2014, Genpact reported a 5% drop in income from operations to $294.0 million, as compared to $309.5 million in 2013, on the back of $2.279 billion revenue, up 6.9%, from $2.132 billion in 2013.

For the December quarter, adjusted income from operations was $81.8 million with a margin of 13.6%, compared to $85.7 million with a margin of 15.3% in the fourth quarter of 2013.

“We delivered on our stated financial expectations and made significant progress executing on our growth strategy including completing all of our planned investments for the year," said N.V. ‘Tiger’ Tyagarajan, Genpact’s president and chief executive.

“We have made disciplined investments in our targeted verticals, service lines and geographies that have positioned us well to capture new growth opportunities, as our clients and the industries in which they operate continue to be transformed and reinvented."

In the 12 months ending 31 December 2014, Genpact grew the number of client relationships with annual revenues over $5 million to 89 from 78 as of 31 December 2013, said the company.

Business process outsourcing (BPO) services contributed to 76.2% of Genpact’s revenues for the full year 2014 and 77.7% for the fourth quarter, up from 75.4% for 2013 and 75.3% for the fourth quarter of 2013.

Revenues from IT services stood at 23.8% of total revenues for the full year 2014 and 22.3% for the fourth quarter, compared to 24.6% for 2013 and 24.7% for the fourth quarter of 2013.

Genpact generated $271.8 million of cash from operations in 2014 and $93.0 million in the fourth quarter, compared with $311.6 million in 2013 and $78.4 million the fourth quarter of 2013.

As of 31 December 2014, the company said, it had approximately $462 million in cash and cash equivalents.

“There is a disruptive trend sweeping across industries requiring companies to integrate new technology and find new ways to use data and insight as a competitive advantage. Our strategy is focused on building domain-led solutions that are responsive to this trend," said Tyagarajan.

“We expect revenues for 2015 to be in the range of $2.46 to $2.50 billion. We expect 2015 adjusted operating income margins to be approximately 15.0%," he added.

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