WNS revenue in Q1 up 10% to $148 mn

WNS India
WNS Holdings today said it achieved first quarter revenue of $148 million (+10.3 percent).

Year-over-year, fiscal Q1 revenue was adversely impacted by depreciation in the British Pound, South African Rand and Australian Dollar against the US Dollar. These headwinds were more than offset by revenue growth driven by the addition of new clients and the expansion of existing relationships.

Year-over-year revenue improvement was broad-based, led by growth in the Healthcare, Retail/CPG, Shipping and Logistics, and Travel verticals. Sequentially, revenue growth was also broad-based, and was boosted by favorability from currency movements net of hedging.

WNS said its profit in the fiscal first quarter was $12.2 million, as compared to $12.8 million in Q1 of last year and $15.9 million in the previous quarter.

Keshav Murugesh, chief executive officer of WNS, said: “Despite the uncertainty surrounding the UK’s decision to leave the European Union, we believe our underlying business momentum is stable and healthy.”

WNS is updating guidance for the fiscal year ending March 31, 2017 as follows:

Revenue less repair payments is expected to be between $541 million and $569 million, up from $531.0 million in fiscal 2016. This assumes an average GBP to USD exchange rate of 1.30 for the remainder of fiscal 2017.

ANI is expected to range between $94 million and $100 million versus $103.0 million in fiscal 2016. This assumes an average USD to INR exchange rate of 67.5 for the remainder of fiscal 2017.