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Wednesday 07 November 2018

Genpact delivers solid third quarter

GenpactGenpact delivered a solid set of results for its third quarter with total revenue of $748m, up 6% year-on-year. Adjusted operating profit was $124 million, up 7% year-on-year, with a healthy margin of 16.6%. Whilst BPO revenues for the Group increased 7% year-on-year to $623m, and now represent 83% of the total, IT Services revenue remains flat at $125m for the quarter.

Genpact continues to benefit from a consistent strategy of investing heavily in a range of platforms which are then pointed firmly at a set of chosen industry verticals. The principle aim being to land a greater proportion of larger more transformational deals. This has seen recent investments in data, analytics and AI and acquisitions in supply chain and healthcare (see here and here).

Genpact has been pointing to a healthy pipeline for some time and is starting to close this down with 11 new deals with TCVs above $50m already signed this year to date. 

Former parent GE remains a key client, and whilst revenue for the quarter here declined year-on-year 11% to $65m, management pointed to a revitalised pipeline including some significant high value opportunities that should see its GE revenue base increasing significantly next year.

All in all, another solid set of results with management remaining confident of meeting its 2018 full year outlook of between 8%-10% growth with revenue of between $2.95 to $3.01 billion.

Posted by Marc Hardwick at '09:32' - Tagged: results   genpact  

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