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    WNS Q1 net revenue rises 8% to $211.6 million; firm raises guidance

    Synopsis

    The company said revenue less repair payments is expected to be between $855 million and $895 million.

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    Business process management firm WNS on Thursday reported 7.9 per cent year-on-year rise in net revenue at $211.6 million for the June quarter. The company had posed a net revenue of $196 million in the year-ago period.

    In constant currency terms the growth was at 11.2 per cent on a yearly basis.

    The company clocked adjusted net income of $37.6 million compared with $30.9 million last year. The adjusted operating margin in Q1 was 22.8 per cent against 18.8 per cent in the same quarter of financial year 2019.

    The company said revenue less repair payments is expected to be between $855 million and $895 million, up from $794.0 million in FY19.

    “The company has updated forecast based on current visibility levels and exchange rates,” said Sanjay Puria, WNS’s chief financial officer.

    From a balance sheet perspective, WNS ended Q1 with $226.5 million in cash and investments and $61.5 million of debt. In the first quarter, the company generated $52.0 million in cash from operations.

    “WNS’s performance in the fiscal first quarter continues to highlight our differentiated positioning in the BPM industry. In Q1, revenue less repair payments grew 8 per cent year-over-year, or 11 per cent on a constant currency basis. The company also posted solid results across other key financial metrics including operating margin, profitability, and cash flow,” said Keshav Murugesh, WNS’s Chief Executive Officer.



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    Download The Economic Times News App to get Daily Market Updates & Live Business News.

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    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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