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

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Mumbai: Business Process Management (BPM) firm WNS reported 41.2% year on year growth in profit to $38.9 million for the fourth quarter ending in March as a result of improved productivity and favorable currency movement. Revenue was up 22.5% at $298.8 million over the year led by new client additions.

On a sequential basis, profit was up 13% while revenue grew 5.2% due to broad-based revenue growth across most verticals and service offerings and increased travel volumes.

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

“Despite pandemic-related business volatility, WNS accelerated full-year revenue beyond the 1-billion-dollar mark, delivering organic constant currency growth of more than 16% is our highest rate since becoming a public company in 2006 and maintained our industry-leading margins at 21.4%,” said Keshav Murugesh, Group CEO, WNS in a statement.

“The company has provided our initial forecast for fiscal 2023 based on current visibility levels and exchange rates,” said Sanjay Puria, WNS’s Chief Financial Officer. “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. We currently have 90% visibility to the midpoint of the range, consistent with April guidance in previous years. For the year, we expect capital expenditures of up to $40 million.”

The company signed 36 new clients and expanded 108 existing relationships, which also represent record high levels, he added.

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“WNS added over 8,000 net employees our global headcount past the 52,000 mark. Full-year revenue growth was broad-based across almost all segments of our business, including continued progress in servicing internet-based clients. In fiscal 2022, revenue from these “digital disruptors” grew 29% year-over-year and now represents 19% of total company revenue,” he said.

The company noted Increased demand for BPM solutions as clients look to leverage technology and automation to help transform their business models and achieve their strategic business goals. The management also stated an opportunity for a continued recovery in its travel vertical, which has the potential to add 2% to the top line growth rate as and when volumes return

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

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