WNS Announces Revenue of $326.5 mn in Q1 24, up 10.5% From Q1 22

WNS Limited, a leading provider of global Business Process Management (BPM) solutions, today announced revenue of USD 326.5 million in the first quarter of FY 2024, a 10.5% increase from  USD 295.3 million reported during the same period last year. 

Profit in the fiscal first quarter was USD30.1 million, as compared to USD 33.1 million in Q1 of last year and USD36.4 million in the previous quarter. 

Year-over-year, profit decreased as a result of wage increases, increased return-to-office costs, higher share-based compensation expense, and increased costs associated with our acquisitions including amortization of intangibles, interest expense, and other acquisition-related expenses, according to the company.

““In the fiscal first quarter, WNS continued to deliver healthy financial results and position our business for long-term success. Despite the challenging macro environment, WNS grew constant currency revenue less repair payments* by more than 17% and maintained our industry-leading adjusted operating margins*. 

“Our updated guidance and visibility demonstrate the healthy and resilient nature of our business, and we believe WNS remains well-positioned to meet the evolving needs of our clients. This includes ongoing technology and automation advancements such as AI and generative AI. The company remains focused on investing in domain, technology, and talent, driving strong operational and financial execution, and delivering long-term sustainable value for all of our stakeholders,” Keshav Murugesh, chief executive at WNS said.