Melbourne [Australia], January 21 (ANI): Australia white-ball skipper Aaron Finch feels Group 1 of the ICC men's T20 World Cup is a "tough" one and the Aussies need to play really well to defend their title this year.
Colombo [Sri Lanka], January 20 (ANI): Prevention, cooperation and mutual assistance in controlled measures at international borders are essential to counter the transnational and connected nature of terrorists and criminal activists in the South Asian region, said Sri Lankan Chief of Defence Staff (CDS) General Shavendra Silva on Thursday, emphasising on the need of law enforcement's institutional reforms based on common and agreed policies.
Mumbai Maharashtra India New York United States Business Wire India WNS Holdings Limited WNS NYSE WNS a leading provider of global Business Process Management BPM solutions today announced results for the fiscal 2022 third quarter ended December 31 2021 Highlights Fiscal 2022 Third Quarter GAAP Financials Revenue of 2841 million up 192 from 2384 million in Q3 of last year and up 38 from 2736 million last quarter Profit of 343 million compared to 310 million in Q3 of last year and 321 million last quarter Diluted earnings per ADS of 068 compared to 060 in Q3 of last year and 064 last quarter Non-GAAP Financial Measures Revenue less repair payments of 2612 million up 163 from 2245 million in Q3 of last year and up 26 from 2544 million last quarter Adjusted Net Income ANI of 444 million compared to 410 million in Q3 of last year and 431 million last quarter Adjusted diluted earnings per ADS of 088 compared to 079 in Q3 of last year and 086 last quarter Other Metrics Added 11 new clients in the quarter expanded 26 existing relationships Days sales outstanding DSO at 30 days Global headcount of 49610 as of December 31 2021 Reconciliations of the non-GAAP financial measures discussed below to our GAAP operating results are included at the end of this release See also About Non-GAAP Financial Measures Revenue in the third quarter was 2841 million representing a 192 increase versus Q3 of last year and a 38 increase from the previous quarter Revenue less repair payments in the third quarter was 2612 million an increase of 163 year-over-year and 26 sequentially Excluding exchange rate impacts constant currency revenue less repair payments in the fiscal third quarter was up 161 versus Q3 of last year and 34 sequentially Year-over-year fiscal Q3 revenue improved as a result of new client additions the expansion of existing relationships increased travel volumes and currency movements net of hedging Sequentially revenue improvement was driven by broad-based revenue growth across most verticals and service offerings and increased travel volumes which were partially offset by currency movements net of hedging Profit in the fiscal third quarter was 343 million as compared to 310 million in Q3 of last year and 321 million in the previous quarter Year-over-year profit increased as a result of revenue growth favorable currency movements net of hedging higher net interest income and a lower effective tax rate These benefits more than offset the impact of wage increases and increased facility-related and travel costs Sequentially Q3 profit increased as a result of revenue growth reduced share-based compensation expense improved productivity and higher net interest income These benefits were partially offset by wage increases higher facility-related and travel costs and currency headwinds net of hedging Adjusted net income ANI in Q3 was 444 million as compared to 410 million in Q3 of last year and 431 million in the previous quarter Explanations for the ANI movements on a year-over-year and sequential basis are the same as described for GAAP profit above with the exception of amortization of intangible expenses share-based compensation costs and associated tax impacts which are excluded from ANI From a balance sheet perspective WNS ended Q3 with 3721 million in cash and investments and 84 million of debt In the third quarter the company generated 569 million in cash from operations and incurred 61 million in capital expenditures Third quarter days sales outstanding were 30 days as compared to 34 days reported in Q3 of last year and 31 days in the previous quarter Despite ongoing pandemic-related volatility and pressure associated with tight global labor markets WNS continues to perform well and deliver solid financial results in a healthy BPM demand environment In the fiscal third quarter year-over-year revenue grew 161 on a constant currency basis while the company maintained adjusted operating margins in excess of 21 said Keshav Murugesh WNS Chief Executive Officer Our business model remains resilient flexible and focused on helping our clients leverage digital transformation to improve their competitive positioning COVID-19 The COVID-19 pandemic is having a significant impact on the global economy our clients businesses and on WNSs operations financials and visibility Revenue has been pressured by lower client volumes delays in new business ramps client concessions and facility lockdowns which impact service delivery WNS is actively working to manage our clients changing requirements adapt our service delivery models ensure data security and manage costs In the fiscal third quarter the company delivered more than 99 of our clients requirements Going forward impacts to our financial performance will be a function of how long the COVID-19 pandemic lasts on a global basis and how long it takes our clients businesses to stabilize and recover Fiscal 2022 Guidance WNS is updating guidance for the fiscal year ending March 31 2022 as follows Revenue less repair payments is expected to be between 1008 million and 1022 million up from 8687 million in fiscal 2021 Guidance assumes an average GBP to USD exchange rate of 135 for the remainder of fiscal 2022 ANI is expected to range between 169 million and 173 million versus 1417 million in fiscal 2021 Guidance assumes an average USD to INR exchange rate of 750 for the remainder of fiscal 2022 Based on a diluted share count of 512 million shares the company expects fiscal 2022 adjusted diluted earnings per ADS to be in the range of 330 to 338 versus 272 in fiscal 2021 The company has updated our forecast for fiscal 2022 based on current visibility levels and exchange rates said Sanjay Puria WNSs Chief Financial Officer Our guidance for the full year reflects growth in revenue less repair payments of 16 to 18 or 14 to 16 on a constant currency basis We currently have more than 99 visibility to the midpoint of the range consistent with January guidance in previous years For the year we expect capital expenditures of up to 30 million See About Non-GAAP Financial Measures and the reconciliations of the historical non-GAAP financial measures to our GAAP operating results at the end of this release Conference Call WNS will host a conference call on January 20 2022 at 800 am Eastern to discuss the companys quarterly results To access the call in listen-only mode please join live via the companys investor relations website at irwnscom For call participants please use the following details US dial-in 1-888-656-9018 international dial-in 1-503-343-6030 participant passcode 9934984 A replay will be available for one week following the call at 1-855-859-2056 international dial-in 1-404-537-3406 passcode 9934984 as well as on the WNS website wwwwnscom beginning two hours after the end of the call About WNS WNS Holdings Limited NYSE WNS is a leading Business Process Management BPM company WNS combines deep industry knowledge with technology analytics and process expertise to co-create innovative digitally led transformational solutions with over 375 clients across various industries WNS delivers an entire spectrum of BPM solutions including industry-specific offerings customer experience services finance and accounting human resources procurement and research and analytics to re-imagine the digital future of businesses As of December 31 2021 WNS had 49610 professionals across 55 delivery centers worldwide including facilities in China Costa Rica India the Philippines Poland Romania South Africa Spain Sri Lanka Turkey the United Kingdom and the United States For more information visit wwwwnscom Safe Harbor Statement This release contains forward-looking statements as defined in the safe harbor provisions of the US Private Securities Litigation Reform Act of 1995 These forward-looking statements are based on our current expectations and assumptions about our Company and our industry Generally these forward-looking statements may be identified by the use of terminology such as anticipate believe estimate expect intend will seek should and similar expressions These statements include among other things express or implied forward-looking statements relating to our expectations regarding the impact of the COVID-19 pandemic on our business our cost structure the discussions of our strategic initiatives and the expected resulting benefits our growth opportunities industry environment expectations concerning our future financial performance and growth potential including our fiscal 2022 guidance future profitability and expected foreign currency exchange rates Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements Such risks and uncertainties include but are not limited to worldwide economic and business conditions our dependence on a limited number of clients in a limited number of industries the impact of the COVID-19 pandemic on our and our clients business financial condition results of operations and cash flows currency fluctuations political or economic instability in the jurisdictions where we have operations regulatory legislative and judicial developments increasing competition in the BPM industry technological innovation our liability arising from fraud or unauthorized disclosure of sensitive or confidential client and customer data telecommunications or technology disruptions our ability to attract and retain clients negative public reaction in the US or the UK to offshore outsourcing our ability to collect our receivables from or bill our unbilled services to our clients our ability to expand our business or effectively manage growth our ability to hire and retain enough sufficiently trained employees to support our operations the effects of our different pricing strategies or those of our competitors our ability to successfully consummate integrate and achieve accretive benefits from our strategic acquisitions and to successfully grow our revenue and expand our service offerings and market share and future regulatory actions and conditions in our operating areas These and other factors are more fully discussed in our most recent annual report on Form 20-F and subsequent reports on Form 6-K filed with or furnished to the US Securities and Exchange Commission SEC which are available at wwwsecgov We caution you not to place undue reliance on any forward-looking statements Except as required by law we do not undertake to update any forward-looking statements to reflect future events or circumstances References to and USD refer to the United States dollars the legal currency of the United States references to GBP refer to the British pound the legal currency of Britain and references to INR refer to Indian Rupees the legal currency of India References to GAAP refers to International Financial Reporting Standards as issued by the International Accounting Standards Board IFRS To View the Complete ReleaseClick on the Link Below httpswwwbusinesswireindiacomwns-announces-fiscal-2022-third-quarter-earnings-revises-full-year-guidance-76935html PWR PWR
New Delhi [India], January 20 (ANI): At the India-Sri Lanka 5th Joint Committee on Science and Technology Cooperation held on January 20, 2022, both countries extended their cooperation in S&T for 3 more years.
New Delhi [India], January 20 (ANI): Chief of Indian Air Force Air Chief Marshal VR Chaudhari on Thursday held a virtual meeting with the counterparts of various Air Forces of the Indo Pacific region and discussed the challenges of distributed logistics and agile combat employment while operating from austere locations.
Colombo [Sri Lanka], January 20 (ANI): Prominent Sri Lankan Member of Parliament (MP) Dr Wijeydasa Rajapakshe has accused China of indulging in the economic invasion, corruption and debt-trap diplomacy in the island nation.
Kuala Lumpur [Malaysia], January 20 (ANI): Sri Lanka's spinners restricted Kenya to 87 for six before captain Chamari Athapaththu struck 57 off 29 balls to power Sri Lanka to a nine-wicket win on the third day of the ICC Commonwealth Games Qualifier 2022 at the Kinrara Oval in Kuala Lumpur.