Genpact Revenues Rise 17%
May 6, 2019
Genpact reported financial results
for the first quarter ended March 31, 2019.
“We had a great start to the year, and I am very excited with the
momentum we are seeing in our business. Strong top-line performance from
both Global Clients and GE led us to our highest year-over-year revenue
growth rate in any quarter in the last six years,” said “Tiger”
Tyagarajan, Genpact’s president and CEO. “We believe our strategy to
concentrate and build depth in a few select industry verticals and
service lines, combined with our two highly synergistic routes to
market, Transformation Services and Intelligent Operations, is working
really well, leading to greater traction in our underpenetrated target
Financial Results – First Quarter 2019
Total revenue was $809 million, up
17% year-over-year (up ~19% on a
constant currency basis).
Income from operations was $90
million, up 41% year-over-year, with
a corresponding margin of 11.1%.
Adjusted income from operations was
$122 million, up 25% year-over-year,
with a corresponding margin of
Diluted earnings per share were
$0.31, down 5% year-over-year, and
adjusted diluted earnings per share
were $0.43, up 10% year-over-year.
Revenue Details – First Quarter 2019
Total BPO revenue was $681 million,
up 19% year-over-year, representing
approximately 84% of total
Total IT revenue was $128 million,
up 11% year-over-year, representing
approximately 16% of total revenues.
Revenue from Global Clients was $700
million, up 11% year-over-year (up
~12% on a constant currency basis),
representing approximately 87% of
Global Client BPO revenue was $605
million, up 12% year-over-year (up
~14% on a constant currency basis).
Global Client IT revenue was $95
million, up 5% year-over-year.
Revenue from GE was $109 million, up
88% year-over-year, representing
approximately 13% of total revenues.
GE BPO revenue was $76 million, up
GE IT revenue was $33 million, up
Flow from Operations
Genpact utilized $5 million of cash
for operations in the first quarter
of 2019, compared to utilizing $27
million of cash for operations in
the first quarter of 2018.
Genpact continues to expect:
Total revenue for the full-year 2019
of $3.33 to $3.39 billion,
representing growth in the range of
11% to 13%, or 12% to 14% on a
constant currency basis.
Global Client revenue growth in the
range of 9% to 10.5%, or 10.0% to
11.5% on a constant currency basis.
Adjusted income from operations
margin4 of approximately
Adjusted diluted EPS5 of
$1.96 to $2.00.