Leading BPO firm WNS (Holdings) Ltd, reported an increase of 15.9% over the corresponding quarter in the prior fiscal year for the third quarter ended December 2008 with revenues for the quarter at $134.0 million. The company reaffirmed its guidance on revenue less repair payments and adjusted net income guidance for fiscal 2009.

Aviva Global Services (AGS) and Call 24/7 Limited, which WNS acquired in July and April 2008, respectively, contributed to the growth in this quarter.

“We had another strong quarter in terms of bottom line growth and margin expansion, which resulted in the highest adjusted net income quarterly results we have ever achieved,” said Neeraj Bhargava, Group CEO. “While the impact of exchange rates continues to affect our top line, we experienced increased volumes and organic growth on a constant currency basis.”

Net income including minority interest for the fiscal third quarter 2009 was $2.1 million compared to $5.5 million during the corresponding quarter in the prior fiscal year. The net income in the current quarter was impacted by amortization charges from the acquisition of AGS and higher foreign exchange losses due to the re-valuation of British Pound-denominated assets.

Adjusted net income was $12.9 million, an increase of 59.8% over the corresponding quarter in the prior year. The primary drivers of this increase were revenue growth, tighter cost management and increased income from WNS’s acquisitions. This increase was partially offset by losses associated with the re-valuation of British Pound-denominated assets.

In the past quarter, WNS announced the following key developments:
-- Contract renewal for three years with extension options with Centrica, WNS’s third largest client, to provide support for customer service for its subsidiaries, British Gas and Direct Energy.
-- Contract renewal for six years with SAS Airlines, the largest airline company in Scandinavia, to deliver passenger revenue accounting processes.
-- Contract renewal for five years with SITA, a global specialist in air transport communication and information technology solutions, to enhance supply chain management and customer service.
-- On January 27, 2009, WNS announced that Neeraj Bhargava will transition into the role of strategic advisor. He will remain in his current role as CEO and board member until a successor transitions into the CEO position.