Genpact Q4 net income up 33% to $46 mn

Beating global recession and indicating signs of revival for information technology outsourcing business internationally, Genpact on Monday posted net profit of $46 million for the fourth quarter ended December 31, 2010. This marks a 33.1 per cent growth from $34.6 million against same quarter in the year-ago period.

The company's net margin for the fourth quarter of 2010 was pegged at 13.5 per cent, up from 11.6 per cent in same quarter of 2009.

Looking at the growth from existing as well new clients in verticals such as retail, banking, insurance and manufacturing, the company plans to hire around 15, 365 people in this year.

"Hiring would depend on the clients we get in 2011. But, I am sure that the headcount could be around 35 per cent of what we had in 2010. As we continue to grow in India from delivery perspective, most of the hiring would come from the country," chief operating officer of Genpact, NV 'Tiger' Tyagarajan, told Financial Chronicle.

As of December 31, 2010, Genpact had around 43,900 employees worldwide, an increase from about 38,600 in 2009. Attrition rate for the entire year was reported to be 31 per cent against 23 per cent in 2009. Revenue per employee in 2010 was $31,100 vis-À-vis $31,200 in 2009, thereby reporting a marginal dip in output.

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