ExlService Q3 profit up 7.69%

of a recent acquisition in our financial results. Revenues were $100 million,an increase of 48 per cent year-over-year,of which 15 per cent was organic growth,” ExlService Holdings CFO Vishal Chhibbar said.

Outsourcing services revenue for the quarter ended September 30,2011,was $83.2 million while transformation services revenue stood at $16.9 million.

“EXL’s Q3 results were marked by strong growth and profitability. Our intent is to stay ahead of the market by pursuing an engagement model that generates a positive business impact for our clients beyond the traditional measures of efficiency and productivity,” ExlService Holdings President and CEO Rohit Kapoor said.

The company has given a revenue guidance of $354 million-$358 million for 2011.

“We are increasing our calendar year 2011 revenue guidance to the upper end of the $354 million to $358 million range,in spite of a foreign exchange headwind that will negatively impact our revenues in the fourth quarter by approximately $3 million,” Chhibbar added. As of September 30,ExlService had about 17,900 employees.

During the quarter,ExlService completed an underwritten public equity offering of 4 million shares of common stock. It repaid all outstanding borrowings under the revolving credit facility using internally generated cash and the net proceeds from the offering of about $21.6 million.