Technology outsourcing major Genpact said its revenue totaled $630.5 million (+3 percent) in the second quarter of 2016.
Income from operations fell 11 percent to $79.9 million.
NV Tyagarajan, Genpact’s president and CEO, said: “Challenging business conditions in the investment banking and healthcare industries have led to cuts in discretionary IT spending that weighed upon our Global Client IT revenue in the second quarter and will impact our top line outlook for the full year.”
Revenue from Global Clients was $521 million (+5 percent), representing approximately 83 percent of total revenues.
Revenue from GE was $109 million (–5 percent), representing approximately 17 percent of total revenues.
Total BPO revenue was $508 million (+6 percent), representing approximately 81 percent of total revenues.
Global Client BPO revenue was $425 million (+9 percent).
GE BPO revenue was $84 million (–7 percent).
Total IT revenue was $122 million (–5 percent), representing approximately 19 percent of total revenues.
Global Client IT revenue was $97 million (–7 percent).
GE IT revenue was $26 million, up 5 percent year over year.
For the 12-month period ended June 30, 2016, the number of client relationships generating annual revenue over $5 million increased to 104 from 102. Client relationships generating more than $15 million in annual revenue increased to 34 from 31 and client relationships generating more than $25 million in annual revenue remaining constant at 17.
Genpact expects revenue of $2.59 to $2.62 billion in 2016.