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On a sequential basis, the company's net profit was up 40% and revenue increased by 3.8%.
Genpact repurchased approximately 3.0 million of its common shares for a total of $68.1 million under its $250 million share repurchase program. Year to date, Genpact has repurchased approximately 3.6 million of its common shares for a total of $81.4 million.
Genpact's president and CEO NV Tyagarajan said that despite significant foreign exchange headwinds the company's outlook for full year revenues remains unchanged, driven by good growth in its Global Client (which excludes its erstwhile parent Genpact). "Recent trends in the marketplace are forcing companies to rethink the way they do business, causing them to leverage new business models and be more disruptive in their industries. This provides us with a terrific opportunity to work with clients through their transformation journeys, as our best-in-class process and domain expertise, combined with our ability to leverage cloud-based component technologies and insights from data and analytics, enables us to develop innovative solutions for them." he added.
During the quarter, the company's IT business appeared subdued with a drop of 6% year in total IT revenues which contributes 21% to the company's overall revenues. While GE's IT revenue was $24.3 million, down 11% year over year, Global Client IT revenue was $104.0 million, down 5% year over year.
The company also said that revenue from global clients was $495.0 million, up 12% year over year, representing 81% of total revenues and revenue from GE was $114.5 million, down 4% year over year, representing 19% of total revenues.
During the quarter, Genpact repurchased approximately 3 million of its common shares for a total of $68.1 million under its $250 million share repurchase program. Year to date, Genpact has repurchased approximately 3.6 million of its common shares for a total of $81.4 million. The company has also entered into a five-year, $1.15 billion credit facility consisting of an $800 million term loan and a $350 million revolving credit facility. Proceeds from this financing were largely used to repay all amounts outstanding under Genpact's prior $925 million credit facility. Borrowings under the new facility will be available at prevailing base or LIBOR rates and an applicable margin, with anticipated savings of 125 and 100 basis points on the new term loan and revolver, respectively, compared to the rates on our prior facility.
The company has kept its full-revenue forecast unchanged from what it had set last quarter for 2015 and expects revenues for 2015 to be in the range of $2.46 billion to $2.50 billion. It added that adjusted income from operations margin to be in the range of 15.0% to 15.2%, compared to an initial outlook of approximately 15%.
