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October 11, 2008

BPO Giant Genpact Turns Around Results

May 2, 2008
 

Business process outsourcing firm Genpact reports profits of nearly $20 million in the first quarter, coming back from loss a year ago.

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Business process outsourcing leader Genpact (NYSE: G) announced net income in the first quarter of $19.7 million, a dramatic contrast to the $14.7 million loss in the same period a year ago.

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Earnings per common share were $0.09, compared with a loss of $0.22 per share in the first quarter of 2007. Revenues reached $234.4 million, up 33 percent.

Genpact was divested by General Electric in 2007, but GE remains a major client with revenues derived from the industrial giant growing 1 percent over the first quarter of 2007.

Genpact also announced it had signed deals with a global insurance provider, a life sciences manufacturing company, a Chinese financial institution, and a North American automobile manufacturer. Genpact’s BPO activities accounted for 78 percent of revenues while work in information technology accounted for the rest.

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