WNS Profit: WNS Q4 profit up 41% YoY, crosses $1 billion revenue mark

Mumbai: Business process management (BPM) firm WNS reported a 41.2% year-on-year growth in profit to $38.9 million for the fourth quarter ended March as a result of improved productivity and favorable currency movement. Revenue increased 22.5% to $298.8 million, led by new customer additions.

On a sequential basis, profit increased 13%, while revenue increased 5.2% due to broad-based revenue growth and increased travel volume across most workspaces and service offerings.

Revenue for the full year was $1,109.8 million, up 21.6% year over year, while profit increased 28.7% to $132.1 million.

“Despite business volatility related to the pandemic, WNS posted full-year revenue past the $1 billion-mark, delivering organic constant currency growth of more than 16%, our highest rate since becoming a public company in 2006 And our industry-leading has been maintained. The margin is 21.4%,” Keshav Murugesh, Group CEO, WNS said in a statement.

“The company has provided our preliminary forecast for FY 2023 based on current visibility levels and exchange rates,” said WNS Chief Financial Officer Sanjay Puria. “Our guidance for the full year reflects growth in revenue less repair payments of 7% to 12% on a reported basis, or 8% to 14% constant currency. Consistent with April guidance in previous years, we currently have a range of There is 90% visibility at the midpoint. For the year, we expect capital expenditures of up to $40 million.”

He said the company signed 36 new customers and expanded 108 existing relationships, which also represent a record high.

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“WNS added over 8,000 net employees across our global workforce of 52,000. Full-year revenue growth was broad-based across nearly all areas of our business, including continued progress in serving Internet-based customers. In FY22, revenue from these “digital disruptions” increased 29% year-on-year and now accounts for 19% of the company’s total revenue,” he said.

The company noted the growing demand for BPM solutions as customers seek to transform their business models and leverage technology and automation to help them achieve their strategic business goals. Management also noted an opportunity for continued recovery in its travel vertical, which has the potential to add 2% to top line growth rates when volumes return.

“We enter the BPM market in fiscal year 2023 with high visibility for differentiated positioning, strong business momentum, a healthy new business pipeline and solid top-line growth. We continue to make necessary strategic investments in areas such as domain expertise, technology-enabled solutions, digital consulting and transformation, advanced analytics, cyber security, and the training and re-skilling of our global employee base, Murugesh said.

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