WNS net profit rises to $32.1 mn in Q2 FY22; revenue up 22.9%

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WNS net profit rises to $32.1 mn in Q2 FY22; revenue up 22.9%
© Provided by Business Today WNS net profit rises to $32.1 mn in Q2 FY22; revenue up 22.9%

Business process management solutions provider WNS (Holdings) Limited today reported a net profit of $32.1 million in July-September quarter, compared to $29.2 million in Q2 FY21. The company has attributed strong Q2 results to digital transformation initiatives and growth in its investments drive.

The company’s revenue for the said quarter grew to $273.6 million, up by 22.9 per cent year-over-year (YoY) from $222.6 million in Q2 FY21. Keshav R Murugesh, Group CEO, WNS, said the company delivered YoY revenue growth of 16.2 per cent on a constant currency basis, posted adjusted operating margin of 21.8 per cent, and expanded adjusted diluted earnings per share by 17.8 per cent. “We believe the BPM opportunity is both accelerating and expanding, as clients increasingly look for strategic digital transformation partners to help improve their competitive positioning,” he said.

As part of its digital transformation investment and initiatives, WNS opened two new, state-of-the-art co-creation and innovation labs in London and New York. The company also rolled out nine function-specific centres of excellence in insurance claims, retail banking, healthcare medical bill review, supply chain, cargo, and collections. It also plans to add 7 more in the next 12 months. In terms of capability building, WNS created capabilities in patient care management, insurance underwriting, customer experience, and data management.

It also created an experienced onshore digital transformation consulting and advisory team in North America, Europe and Asia Pacific. As per the company, over 40 digital transformations are underway with existing clients, including 80 per cent of its top 20 relationships.

The company has revised its fiscal 2022 guidance, saying its net revenue is expected to be between $984 million and $1,016 million, up from $868.7 million in the current fiscal year. WNS ended Q2 with $332.2 million in cash and investments. It added 2,500 employees during Q2 FY22, and has a global headcount of 49,511 as of September 30, 2021.

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