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WNS (Holdings) Limited (WNS-3.33%) has submitted its 10-Q filing for the quarterly period ended December 31, 2024.
The filing reports a revenue of $333.0 million for the quarter, an increase from $326.2 million in the same period the previous year. This increase was driven by new client acquisitions and favorable currency exchange impacts.
Revenue less repair payments, a non-GAAP measure, was reported at $319.1 million, up from $315.9 million in the prior year. This measure excludes payments to repair centers in the BFSI segment where WNS acts as the principal.
The company's cost of revenue increased slightly to $216.4 million, primarily due to higher repair payments and facilities costs.
Operating profit for the quarter was $45.2 million, an increase from $39.4 million in the previous year, attributed to higher revenues and reduced general and administrative expenses.
Net income for the quarter was reported at $48.6 million, compared to $41.5 million in the same period last year. The increase was primarily due to higher operating profit and other income.
WNS reported cash and cash equivalents of $231.5 million as of December 31, 2024, with total debt outstanding of $199.6 million.
The company announced a new share repurchase program for up to 3,000,000 shares, with no shares repurchased during the quarter.
WNS continues to manage its exposure to market risks, including foreign exchange and interest rate risks, through its treasury operations and hedging strategies.
The filing also includes updates on ongoing tax assessment orders and legal proceedings, which the company believes will not have a material adverse effect on its financial position.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the WNS (Holdings) Limited quarterly 10-Q report dated February 6, 2025. To report an error, please email earnings@qz.com.