Genpact Q1 net up 8.3% at $50.6 million

BPO major Genpact today posted 8.3% jump in net profit at $50.6 million for the first quarter ended March 31, 2014.

The company's net profit had stood at $46.7 million in the January-March quarter of 2013, Genpact said in a statement.

Revenues during the reported quarter stood at $528.2 million, up 4.8% from $503.8 million in Q1 of 2013, it added.

The company follows a January-December fiscal.

"In the first quarter of 2014, Genpact delivered growth in revenues, adjusted income from operations, net income and earnings per share. The year is off to a good start as we execute on our growth strategy," Genpact President and CEO NV Tyagarajan said.

During the quarter, the company closed a large, new transformative engagement with an existing client that also adds capabilities in a targeted vertical, consumer packaged goods, he added.

"More recently, we agreed to acquire Pharmalink Consulting, which will add new domain expertise in the regulatory affairs space of life sciences, and announced a strategic partnership with Oliver Wyman, a global leader in risk consulting, to build and take to market, new end-to-end risk solutions for the increasingly regulated financial services vertical," Tyagarajan said.

For 2014, Genpact expects revenues to be in the range of $2.22-2.26 billion.

Year 2014 is a pivotal one for Genpact as it positions itself for accelerated long-term growth, Tyagarajan said.

"Our pipeline continues to be healthy, with good inflows of larger, transformative deals, as we continue to invest in client-facing teams and domain experts. Our guidance excludes our recent agreement to acquire Pharmalink Consulting, which we expect to close by mid-year," he added.

Revenues from clients other than GE, referred to as global client revenues (about 79.1% of the total revenue), grew by 7.1%.

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