Genpact Q4 net up profit 33% at $61 mn

Genpact reported a jump in net profit for the fourth quarter ended December 31,2011.

BPO major Genpact today reported 32.8 per cent jump in net profit to USD 61.1 million for the fourth quarter ended December 31,2011.

The company had a net profit of USD 46 million in the fourth quarter of 2010,Genpact said in a statement.

Revenues rose to USD 442.7 million during October-December quarter 2011,up 29.6 per cent from USD 341.5 million in the fourth quarter of 2010.

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“We had a great 2011 and finished the year with a very strong fourth quarter. Genpact delivered growth in revenues,adjusted operating income and margin,as well as EPS for the year,” Genpact’s President and CEO NV ‘Tiger’ Tyagarajan said.

For the full year,the company has reported a net income attributable to Genpact Ltd shareholders stood at USD 184.3 million,up 29.6 per cent from USD 142.2 million in 2010.

Revenues during the period under review were USD 1.60 billion,up 27.1 per cent from USD 1.26 billion in the same period last year.

For the full year 2012,the company expects annual revenues between USD 1.84 billion and USD 1.88 billion.

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“In an environment where our clients are facing ongoing macro-economic uncertainty and volatility,we expect annual revenues for 2012 between USD 1.84 billion and USD 1.88 billion,” Tyagarajan added.

Revenues from global clients grew 42.7 per cent for the full year 2011 and 46.9 per cent in the fourth quarter.

Revenues from global clients represented approximately 69.8 per cent of Genpact’s total revenues in 2011.

“The number of clients in the category from USD 1 million to USD 5 million of annual revenues grew the fastest,to 121 from 64 at the end of 2010,” Tyagarajan added.

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As of the end of 2011,56 client relationships each contributed revenues of USD 5 million or more in the last 12 months,up from 44 such relationships as of December 31,2010.

As of December 31,2011,nine client relationships each contributed revenues of USD 25 million or more in the last 12 months,up from three such client relationships as of December 31,2010.

Genpact had approximately USD 408 million in cash and cash equivalents as of December 31,2011.

As of December 31,Genpact had approximately 55,400 employees worldwide,an increase from approximately 43,900 at the end of 2010. Revenue per employee in 2011 was USD 34,100,up from USD 31,100 in 2010.