Genpact’s third-quarter net profit slips more than 47% year-on-year
Business process management and technology services firm Genpact on Thursday reported a decline of 47.5 per cent in its net profit to $25 million for the third quarter ended September 30, 2012.
The New York Stock Exchange (NYSE) listed BPO & technology services firm said its net profit dropped 47.5 per cent to $25 million in the third quarter of 2012, against a profit of $48 million in the corresponding period of 2011.
Genpact suffered the steep drop in net profit despite a considerable increase in revenues year-on-year. Revenues jumped 14.3 per cent, from $429.6 million to $491.2 million.
The technology firm said that a special cash dividend of $2.24 a share and FOREX losses of $13 million contributed to the drop in net profit.
Speaking about the company's outlook for the next few quarters, Genpact President & CEO NV Tyagarajan said that they would remain cautious about the global economy.
Speaking on the topic, Tyagarajan said, "Overall our clients continue to feel that the global economy is volatile and uncertain and it's important for us to take note of that as we think about the future."
For the full-year, Genpact expect revenues in the range of $1.86 billion to $1.9 billion, and adjusted operating earnings margin of between 16 per cent and 16.5 per cent.