Genpact sees rosy future for IT-BPO; ups profit forecast
03 May 2012
Genpact, India's largest business process outsourcing (BPO) company, on Wednesday reported a March quarter net profit of $38.5 million (Rs202 crore), up 6.7 per cent from the same period last year.
Genpact also hiked its annual revenue guidance to $1.9 billion, buoyed by sales from Netherlands-based Accounting Plaza which it acquired in April. Annual revenues for the NYSE-listed company are now expected to be in the range of $1.86 - $1.90 billion this year, up from the earlier prediction of $1.84 - $1.88 billion, the company said in a statement from New Delhi.
"We expect to add at least $24 million from Accounting Plaza to our sales," said N V Tyagarajan, Genpact's president and chief executive.
On a quarter-on-quarter basis, net profit fell by 36.9 per cent and revenue was down by 1.6 per cent; but this did not affect the company's upbeat outlook.
It posted a 6.7 per cent rise in its net to $38.5 million for the first quarter ended March 31, from a year ago period.
Genpact lists GE, Nissan, Wachovia and Wells Fargo among its foreign clients; while Pizza Hut and the Hyatt hotel chain are among its Indian customers.
