WNS has announced results for Q1 FY22, for the period ending June 30, 2020.

Q1 FY22:

• Net revenues (less repair payments) were $236.3m, up 17.3% y/y, up 11.4% in CC.
• EBIT was $33.19m, a margin of 14.0%, up 4.4 pts y/y
• Adjusted EBIT margin was 20.8%, up 3.3 pts y/y.

Q1 FY22 net revenue (and y/y growth) by service line was:

• Industry specific $102m +21.6%
• Autoclaim $3.3m +57.1%
• Contact center $41.0m +12.5%
• F&A $58.1m +18.5%
• Research & analytics $25.2m +10.8%
• Technology services $5.1m -16.3%
• Legal services $0.2m
• HRO $0.2m

Q1 FY22 revenue share (with NH estimates of net revenue and y/y growth) by region was:

• Europe 6.8% ($16.1m, +6.9%)
• North America 47.5% ($112.3m, +17.8%)
• U.K. 27.7% ($65.5m, +18.8%)
• South Africa 3.2% ($7.6m, +32.6%)
• Others 14.8% ($34.9, +17.3%).

Q1 FY22 revenue (and y/y growth) by sector was:

• Travel and leisure $32.8m, +1.3%
• Insurance $59.3m, +10.5%
• Healthcare $46.9m, +20.5%
• Utilities $11.2m, +44.0%
• Banking & financial services $14.9m, +82.6%
• Manufacturing, retail, consumer products, telecom & diversified business $36.8m, +10.3%
• Consulting & professional services $16.5m, +31.7%
• Shipping & logistics $17.7m, +21.9%.

Q1 FY22 share of total revenues (and estimated revenue) by client contribution was:

• Largest client 8.1% ($19.2m)
• Top 5 clients 26.4% ($62.4m)
• Top 10 clients 41.1% ($97.1m)
• Top 20 clients 56.1% ($132.6m)

Headcount at the end of the quarter was 46,918, a net y/y increase of 3,496 (8.1%).

Guidance for full FY22 includes revenue less repair payments of $961-1,009m, a growth of 10.6% to 16.2%, or 8-14% in CC. The company currently has 95% visibility to the midpoint of the range.