BPO services firm ExlService Holdings today said its net profit has increased 13 per cent to USD 11.1 million in the first quarter of 2014.
This is against a net profit of USD 9.8 million for the same quarter last fiscal, EXL said in a statement.
"EXL had a solid first quarter, driven by strength in decision analytics revenues particularly in risk and marketing analytics engagements tailored to the banking, insurance and healthcare industries," Rohit Kapoor, EXL Vice Chairman and CEO said.
"In EXL's targeted industry verticals, clients are actively looking for innovative solution ideas that integrate decision analytics and operations management in long-term annuity arrangements," he said.
EXL expects its revenue for the fiscal 2014 to be between USD 480 million to USD 500 million.
"Our revenue and adjusted EPS guidance exclude the impact of the reimbursement of transition and disentanglement costs for a disclosed client issue," EXL CFO Vishal Chhibbar said.
Revenues for the said quarter stood at USD 121.8 million compared to USD 116 million for the same quarter last year, up five per cent.
The company's revenues stood at USD 124.1 million for the quarter ended December 31, 2013.
The revenues were reduced by approximately USD 2.5 million due to the reimbursement of transition and disentanglement costs tied to a previously disclosed client issue, it said.
The company's outsourcing services revenues for the quarter were USD 100.1 million (from USD 97.6 million in March 2013 quarter).
Transformation services revenues for the reported quarter stood at USD 21.7 million compared to USD 18.4 million for the quarter ended March 31, 2013.
The company won five new clients during the first quarter, including three transformation clients.
Its headcount stood at 22,800 compared to 22,200 as of December 31, 2013.
The company witnessed an attrition rate of 28.8 per cent in the March 2014 quarter, up from 23.6 per cent for the March 2013 quarter.
