WNS has announced its fiscal 2021 third quarter Earnings and has revised full year guidance. The company reported profit of $31.0 million, compared to $30.9 million in Q3 of last year and $29.2 million last quarter.
“Our fiscal third quarter results continue to demonstrate the strategic importance of our BPM solutions and resilience of the WNS business model. In Q3, we were able to sequentially grow top line, deliver healthy margins, and generate strong cash flow in the midst of a global pandemic,” said Keshav Murugesh, WNS’s Chief Executive Officer. “During the third quarter, we also re-initiated global hiring in support of both signed new business and a healthy sales pipeline. Looking forward, while we continue to expect some COVID-related volatility in our business over the next few quarters, we believe the long-term BPM market opportunity continues to improve. Driven by disruption and the need for “hyperautomation”, clients are looking to WNS to help them transform their business models and improve competitive positioning. WNS will continue to focus on superior execution and investing in the breadth and depth of our capabilities to ensure we deliver sustainable value to all of our key stakeholders.”
“The COVID-19 pandemic is having a significant impact on the global economy, our clients’ businesses, and on WNS’s operations, financials, and visibility. Revenue has been pressured by lower client volumes, delays in new business ramps, client concessions, and facility lockdowns which impact service delivery,” the company said in a statement.
“WNS is actively working to manage our clients’ changing requirements, adapt our service delivery models, ensure data security, and manage costs. In the fiscal third quarter, the company delivered 98% of our clients’ requirements, the same as reported in Q2. Going forward, impacts to our financial performance will be a function of how long the COVID-19 pandemic lasts on a global basis, and how long it takes our clients’ businesses to stabilize and recover,” it added.
WNS (Holdings) Limited is a Business Process Management (BPM) company. It combines deep industry knowledge with technology, analytics and process expertise to co-create transformational solutions with over 375 clients across various industries.
WNS delivers an entire spectrum of BPM solutions including industry-specific offerings, customer interaction services, finance and accounting, human resources, procurement, and research and analytics to re-imagine the digital future of businesses.
As of December 31, 2020, WNS had 42,830 professionals across 60 delivery centers worldwide including facilities in Australia, China, Costa Rica, India, the Philippines, Poland, Romania, South Africa, Spain, Sri Lanka, Turkey, the United Kingdom, and the United States.
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