India’s biggest BPO firm Genpact has declared results for the full year 2007, which showed the company’s growth from subsisting world-wide customers and from GE boosted profits.

The company has recorded 42% growth in net income at $56.4 million, which was 41.9% up from $39.8 million during the last year (2006).

Genpact’s yearly revenue stood at $822.7, up 34.2% from 2006, with organic growth (or revenue excluding acquisitions) of 27.7%, whereas the adjusted income from operations margin boosted 50 basis points to 16%.

During the fourth quarter, the company has posted 30.3% increase in its revenue, which stood at $231.6 million, up 8% as compared to the third quarter of 2007.

The company’s net income for the same period was $31.2 million, up 30.3% as against the corresponding period of the last year.

In an announcement, the company stated that revenues from customers other than GE arose 114.9% over 2006 (organic growth of 91.1%).

The GE revenues for 2007 grew 11% over 2006, prior to adjustments for dispositions by GE of businesses that it continues to serve.

The company has big expectations from the existing year (2008). It projects organic revenue growth in the range of 25-27% for the full year 2008.

Mr. Pramod Bhasin, Genpact’s President and CEO, said, “We also expect adjusted operating income margin to improve slightly by 10-30 basis points to 16.1-16.3 per cent.”

Genpact has also decided to make entry in the domestic $1.60-billion ITeS-BPO market segment. It will also enter the Chinese BPO market where it has 3,000 employees.

“We have ignored these markets for far longer than we should have. The time is right for us to enter the India and China markets as our products are well-suited to the market requirements and local companies are also ready for these services. We would start with some of our high-end offerings like re-engineering services, customer service and finance & accounting work in these markets,” Mr. Bhasin said.

In order to expand its Indian base, Genpact is also eyeing acquirements in India with valuations being attractive at this juncture.

“We have a potential list of Indian companies-captives, niche services firms and small IT companies. Valuations are better and we find many attractive targets in India,” Mr. Bhasin added.