Benzinga | Jul 15, 2021 09:34AM EDT

WNS Q1 Results Beat Estimates; Raises Outlook

* WNS (Holdings) Limited (NYSE:WNS) reported first-quarter FY22 non-GAAP revenue growth of 17.33% year-on-year to $236.30 million, beating the consensus of $230.07 million.

* Adjusted gross profit rose 23.2% Y/Y to $84.8 million. 20.82% of operating margin with $49.2 million adjusted operating profit was recorded in the quarter.

* Adjusted general and administrative expenses for the quarter were $26.4 million.

* Adjusted net income for the period increased nearly 50% to $39 million.

* Adjusted earnings per ADS (EPADS) of $0.76 beat the analysts' consensus of $0.68.

* The company held $96.6 million in cash and equivalents as of June 30, 2021.

* "Despite challenges related to a spike of COVID-19 cases in India during the quarter, WNS was able to execute well in a difficult environment, protecting the health and safety of our employees and the mission-critical operations of our clients," said CEO Keshav Murugesh.

* Outlook: WNS now sees FY22 adjusted EPADS of $3.09-$3.28, versus consensus of $3.05. It earlier expected adjusted earnings per ADS of $2.98 to $3.21.

* The company now expects FY22 non-GAAP revenue of $961 million - $1.009 billion, versus the consensus at $963.56 million. The company had earlier expected non-GAAP revenue of $945 million to $997 million.

* Price action: WNS shares closed at $80.96 on Wednesday.