Saturday November 7, 02:56 AM

Source: Indian Express Finance

ExlService back in black with $3.9-m profit

By fe Bureaus
Nasdaq-listed ExlService Holdings Inc has swung back into the black with its net profit touching $3.9 million for the quarter ending September 30, 2009. The company registered a net loss of $1.07 million during the same quarter last year due to loss of the Aviva account. Sequentially the net profit jumped 219%. The company s revenues stood at $48.2 million, an increase of 3.4% year-on-year and 13.7% sequentially. Exl has also acquired American Express Global Travel Service Center operations in Gurgaon along with an eight-year agreement to service the back-office operations of American Express Business Travel. The transaction is valued at $30 million and includes 800 employees of American Express. We estimate achieving more than $160 million in revenues over the life of the contract, said Rohit Kapoor, president and CEO, ExlService. Its operating margin for the quarter stood at 10.7% compared to 11.3% for the corresponding quarter last year and 6.6% for the quarter ended June 30, 2009. The company has also slightly increased its guidance for the financial year 2009. It now expects revenues between $178.0 million to $180.0 million instead of the earlier predicted $170.0 million to $175.0 million.