Genpact Q2 net slips 23%, co ups 2014 guidance

Written by PTI | New Delhi | Updated: Aug 2 2014, 08:13am hrs
BPO major Genpact has reported a 23% drop in its net profit to $49 million for the second quarter ended June 30, 2014.

The US-based firm, which follows the January-December fiscal, had posted a net profit of $63.9 million in the same period last year, it said in a statement.

Revenues rose 5% to $561.6 million in April-June quarter of 2014 from

$534.8 million in the year-ago period.

Genpact has raised its revenue guidance for the current fiscal in the range of $2.24-2.28 billion, which will include the revenues from Pharmalink Consulting,

a firm it acquired in April this year.

Commenting on the performance, Genpact President and CEO NV Tyagarajan said: "Our revenue growth and adjusted operating income and net income levels are all tracking in line with our expectations. We are being disciplined in executing our strategy, with a particular emphasis on investments in our chosen verticals, geographies and service lines."

Revenues from global clients grew 6.8% over the second quarter of 2013.

Revenues from Global Clients represented about 78.7% of Genpact's total revenues ($441.8 million).