Business process management major ExlService Holdings today reported 13.5 per cent decline in its net profit to USD 9.6 million for January-March 2015 quarter.
However, the company expects a "robust demand outlook" for the year and raised its annual revenue growth forecast to 14.1-18 per cent.
The Nasdaq-listed firm had recorded a net profit of USD 11.1 million in the first quarter ended March, 2014.
EXL's revenues grew 17.8 per cent to USD 143.5 million in the reported quarter from USD 121.8 million in the year-ago period.
"EXL had a strong first quarter with broad-based growth across business lines and industry verticals. We believe the demand environment is improving with clients becoming increasingly decisive around strategic deals," EXL Vice Chairman and CEO Rohit Kapoor said in a statement.
For 2015, EXL has raised its revenue guidance to USD 600 million to USD 620 million from USD 570 million to USD 590 million, representing annual revenue growth of 14.1 per cent to 18 per cent, despite a currency headwind of about one per cent.
"The drivers of our guidance revision include the contribution of analytics firm RPM Direct, strong business performance in the first quarter, and a robust demand outlook for the remainder or the year," EXL CFO Vishal Chhibbar said.
The company reports its business under two segments -- Operations Management and Analytics and Business Transformation.
EXL won nine new clients in the first quarter of 2015, including four in Operations Management and five in Analytics and Business Transformation.
"Our strong revenue performance was a result of growth across our major client relationships as well as contributions from our acquisitions," Chhibbar said.
EXL had a headcount of 22,600 as of March 31, 2015 and its employee attrition stood at 33.6 per cent.
