EXL Q4 Net up 30 pct to USD 15.8 mn; to expand in India, Philippines

Written by Press Trust of India | New Delhi | Updated: Mar 4 2014, 03:04am hrs
EXL Q4EXL had a strong fourth quarter, driven by broad-based revenue and profit growth, says Rohit Kapoor. Reuters
BPM major ExlService Holdings today said its net profit has jumped 30.5 per cent to USD 15.8 million for the quarter ended December 31, 2013 on the back of broad-based growth across verticals and uptick in decision analytics services.

Net profit for the Nasdaq-listed firm stood at USD 12.1 million in the fourth qaurter ended December 2013.

"EXL had a strong fourth quarter, driven by broad-based revenue and profit growth. Decision analytics revenue grew 24 per cent year-over-year, driven by risk and marketing analytics engagements," ExlService Holdings Vice Chairman and CEO Rohit Kapoor told PTI.

The company's revenues grew 5.4 per cent to USD 124.12 million in the reported quarter from USD 117.65 million in the year-ago period.

Outsourcing services revenues stood at USD 100.4 million, while transformation services revenues were USD 23.7 million in the said quarter.

For the fiscal ended December 31, 2013, the company's net profit grew 14.9 per cent to USD 48.09 million, while revenue was up eight per cent to USD 478.45 million.

For 2014, ExlService expects its revenue to be between USD 480 million to USD 500 million, based on an Indian rupee to US dollar exchange rate of 62.

"Two of our clients will be transitioning out in this fiscal, which will have an impact of 6-7 per cent on our revenues," Kapoor said.

He added that demand for outsourcing services remains stable in both the US and Europe. The company won five new clients during Q4, including three transformation clients and two outsourcing clients.

As of December 31, 2013, its headcount stood at 22,208 as against 21,049 in Q4 2012, an addition of 1,159 people. The attrition for the said quarter stood at 25 per cent falling from 30.4 per cent in the year-ago period.

For 2014, ExlService plans to expands its operations in Philippines and India.

"Last year, we had invested USD 16 million. In 2014, the capex plans is for USD 24 million. We will expand operations in Philippines as well as in India, especially in Kochi," Kapoor said.