Demand from clients helps Genpact 1st-quarter results
NEW YORK—Genpact Ltd., a business process services outsourcer, said late Thursday it swung to a profit, helped by rising demand from clients including General Electric.
Profit totaled $19.7 million, or 9 cents per shares, compared with a loss of $14.7 million, or 22 cents per share, last year. Excluding one-time items, net income was 15 cents per share. Analysts polled by Thomson Financial, on average, predicted a profit of 8 cents per share.
Revenue rose 33 percent to $234.4 million from $176 million last year. Analysts expected revenue of $229.6 million.
"We see strong demand for our services, as clients look to Genpact to provide value for their businesses, particularly in the current environment," said Pramod Bhasin, company chief executive, in a statement.
The Bermuda-based company, which went public last year, said new clients include a global insurance provider, a life-sciences manufacturing company, a Chinese financial company and a North American car maker.
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