Latest News | WNS Q4 Net Dips Marginally to USD 36.4 Mn, Aims for a Double-digit Topline Growth in FY24
Get latest articles and stories on Latest News at LatestLY. Business process management solutions company WNS reported a marginal decline in its March quarter net at USD 36.4 million.
Mumbai, Apr 27 (PTI) Business process management solutions company WNS reported a marginal decline in its March quarter net at USD 36.4 million.
The NYSE-listed company, which has a sizable number of employees in India working for global clientele, had reported a profit of USD 38.9 million in the year-ago period.
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For FY23, it reported an uptick in profit at USD 137.3 million against USD 132.1 million in 2021-22.
In the January-March quarter, its overall revenue grew 5.4 per cent to USD 314.9 million, while in FY23, the same came at 10.3 per cent to USD 1,224 million.
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The profit decreased as a result of wage increases, increased return-to-office costs, currency movements impacting monetary assets and liabilities, higher share-based compensation expense and increased costs associated with our acquisitions of Vuram, OptiBuy, and The Smart Cube, including amortization of intangibles, interest expense, and other acquisition-related expenses, as per an official statement.
"We enter fiscal 2024 with healthy demand for our services, strong revenue momentum, a resilient business model, and differentiated positioning in the BPM space," its chief executive Keshav Murugesh said.
The company said for FY24, it will be targeting between 11-16 per cent in revenue, and the bottom line to come at USD 209-221 million.
Its chief financial officer Sanjay Puria said it is accounting for a capital expenditure of up to USD 60 million on various investments in FY24.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)