WNS (Holdings) Ltd., a provider of global business process management (BPM) solutions, reported first-quarter net profit declined to $30.1 million compared with $33.1 million in the year-earlier period.
“Year-over-year profit decreased as a result of wage increases, increased return-to-office costs, higher share-based compensation expense, and increased costs associated with our acquisitions including amortisation of intangibles, interest expense, and other acquisition-related expenses,” the company said in a statement.
“These headwinds were partially offset by revenue growth and favourable currency impacts,” the company said.
During the quarter, the company’s revenues grew 10.5% to $326.5 million YoY. Net revenue grew to $317.5 million, up by 17.5% y-o-y on a constant currency basis. Keshav R. Murugesh, Group CEO, WNS said, “In the fiscal first quarter, WNS continued to deliver healthy financial results and position our business for long-term success.”
“Despite the challenging macro environment, WNS grew constant currency revenue less repair payments by more than 17% and maintained our industry-leading adjusted operating margins,” he said.
“Our updated guidance and visibility demonstrate the healthy and resilient nature of our business, and we believe WNS remains well-positioned to meet the evolving needs of our clients. This includes ongoing technology and automation advancements such as AI and Generative AI,” he added.
“The company remains focused on investing in domain, technology and talent, driving strong operational and financial execution, and delivering long-term sustainable value for all of our stakeholders,” he further said.
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