WNS has announced results for Q2 FY22, for the period ending September 30, 2021.

Q2 FY22:

• Net revenues (less repair payments) were $254.4m, up 18.7% y/y, up 16.2% in CC.
• EBIT was $41.3m, a margin of 16.2%, down 2.1 pts y/y
• Adjusted EBIT margin was 21.8%, down 1.6 pts y/y.

Q2 FY22 net revenue (and y/y growth) by service line was:

• Industry specific $100m +16.8%
• Autoclaim $3.4m +25.4%
• Contact center $44.4m +17.9%
• F&A $55.9m +15.5%
• Research & analytics $26.1m +16.9%
• Technology services $5.4m +37.0%
• Legal services $0.8m
• HRO $0.4m

Q2 FY22 revenue share (with NH estimates of net revenue and y/y growth) by region was:

• Europe 6.5% ($16.5m, +12.6%)
• North America 48.2% ($122.6m, +24.1%)
• U.K. 27.6% ($70.3m, +15.1%)
• South Africa 2.9% ($7.4m, +28.1%)
• Others 14.8% ($37.6, +10.3%).

Q2 FY22 revenue (and y/y growth) by sector was:

• Travel and leisure $40m, +25.2%
• Insurance $61.3m, +13.1%
• Healthcare $48.5m, +13.3%
• Utilities $11.6m, -3.7%
• Banking & financial services $16.0m, +66.9%
• Manufacturing, retail, consumer products, telecom & diversified business $37.5m, +10.0%
• Consulting & professional services $17.2m, +27.0%
• Shipping & logistics $22.3m, +37.9%.

Q2 FY22 share of total revenues (and estimated revenue) by client contribution was:

• Largest client 7.6% ($19.5m)
• Top 5 clients 28,2% ($71.7m)
• Top 10 clients 41.9% ($106.6m)
• Top 20 clients 55.4% ($140.9m)

Headcount at the end of the quarter was 49,511, a net y/y increase of 8,045 (19.4%).

Guidance for full FY22 includes revenue less repair payments of $984-1,016m, a growth of 13.3% to 17.0%, or 11-15% in CC.