Genpact Limited provides business process management and information technology services worldwide. It offers finance and accounting services, including accounts payable services, payment and inquiry management, order to cash services, preparation of financial statements, closing and reporting, cash management, treasury, cash flow analysis, tax return preparation, financial planning and analysis, governance, and internal controls services. The company also provides smart decision services, such analytics and research; business consulting and enterprise risk consulting services comprising internal audit, compliance advisory, regulatory advisory, enterprise, IT, and fraud risk management servi...
22 Victoria Street
Hamilton, HM 12
Founded in 1997
Genpact Ltd. Extends Partnership with Genworth Financial for Five Years
May 21 13
Genpact Ltd. announced a five-year contract extension with Genworth Financial Inc. to continue providing comprehensive business process management services. Genpact has a 14-year relationship with Genworth and supports Genworth's three primary divisions: Insurance and Wealth Management, Mortgage Insurance and Corporate and Runoff. Under the terms of the renewed master services agreement, Genpact will continue to provide its business process management services to Genworth for functions including agent services, analytics and actuarial, finance and accounting (F&A), sourcing, and content solutions. Genpact also signed a third party administrator (TPA) agreement with Genworth, enabling Genpact to provide TPA services in the United States for Genworth. Genpact provides its services to Genworth from six delivery centers across the U.S., U.K. and India.
Genpact Ltd. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2013; Provides Earnings Guidance for 2013
May 1 13
Genpact Ltd. announced unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, the company reported total net revenues of $503,848,000 against $435,479,000 for the same period a year ago. Income from operations was $73,949,000 against $60,431,000 for the same period a year ago. Income before income tax expense was $65,500,000 against $56,623,000 for the same period a year ago. Net income available to company common shareholders was $46,737,000 or $0.20 per diluted share against $38,540,000 or $0.17 per basic and diluted share for the same period a year ago. Net cash provided by operating activities was $31,548,000 against $4,910,000 for the same period a year ago. Purchase of property, plant and equipment was $14,623,000 against $21,916,000 for the same period a year ago. Adjusted income from operations was $82,771,000 against $71,579,000 in the first quarter of 2012. Adjusted diluted earnings per share were $0.23, up from $0.21 in the first quarter of 2012. Adjusted net income was $54,484,000 against $47,782,000 for the same period a year ago. Income before equity-method investment activity, net and income tax expense was $65,456,000 against $56,636,000 a year ago. Capital expenditure as a percentage of revenue was approximately 1.9%. This was mostly invested in creating additional capacity for growth in Europe and SEZ locations in India.
For the full year 2013, the company continues to expect revenues to be in a range of $2.15 billion to $2.20 billion, and adjusted operating income margin in a range of 15.8% to 16.3%. The company expects effective tax rate to be in the range of 27% to 29%. The company expects cash flow from operations to be 10% to 15% lower than 2012. This is driven by the receipt of an upfront client payment of approximately $45 million and some other nonrecurring benefits in 2012, along with higher debt servicing costs in 2013. The company continue to expect to close the year with capital expenditures as a percentage of revenue in the range of 3% to 4%.
Genpact Ltd. Builds its Dutch Presence
May 1 13
Genpact Ltd. has strengthened its services delivery operations in The Netherlands one year after its acquisition of Accounting Plaza. Providing an expanded services portfolio and enhanced career opportunities for its employees, Genpact now serves more than 20 clients with Dutch operations including Ahold, MSD, Achmea and Nationale Nederlanden. The new team in Wormer is providing information center services for MSD in The Netherlands market and beyond. For technology services, Genpact consolidated its Enterprise Application Services center in Wormer through the unification of the former Accounting Plaza ERP Services unit with its SAP consulting team in Rotterdam. From The Netherlands, Genpact delivers a broad range of services for clients in a number of industries, including consumer goods, retail, life sciences, financial services and insurance. Genpact's European operations are also strengthened by its Smart Decision Services encompassing analytics, process re-engineering and risk management, as well as its Smart Enterprise Processes (SEP(SM)) framework for making business processes more effective.