New York: BPO major Genpact on Monday said its net income rose 33 per cent to $46 million (Rs 209.13 crore) for the fourth quarter ended December 31, 2010.
The company had a net income attributable to shareholders at $34.6 million during the same quarter ended December 2009, Genpact said in a statement.
"In 2010, we grew revenues, adjusted income from operations, net income, earnings per share and cash flows. We increased our business with existing clients and continued to expand the pipeline," Genpact President and CEO Pramod Bhasin said.
The outsourcing company's revenues rose to $341.5 million in the October-December quarter of 2010 from $296.9 million in the fourth quarter of 2009, registering a growth of 15 per cent.
"The macro-economic environment appears to be improving. Our pipeline for new business continues to expand overall. Within that environment, we are also continuing to see longer cycle times and smaller deal sizes. In 2011, we expect revenue growth of 10-13%, led by strong and accelerating growth from our Global Clients business," Bhasin added.
As of December 31, 2010, Genpact had about 43,900 employees globally, an increase from about 38,600 at the end of 2009.
The attrition rate for the entire year, measured from day one, increased to 31 per cent compared to 23 per cent in 2009.
For the full-year of 2010, Genpact's net income increased by 11.7 per cent to $142.2 million over last year, while revenues grew 12.4 per cent y-o-y to $1.25 billion.
The company added 76 new clients during the year, up from 52 added in 2009.
Cash from operations totaled $163 million in 2010 from $158 million in 2009. As of December 31, 2010, Genpact had $481 million cash, cash equivalents and short-term investments, it added.
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