ExlService Holdings has announced the report of its financial results for the first quarter of 2013.
Revenues for the quarter ended March 31, 2013 were $116.0 million compared to $104.6 million in the previous year. Outsourcing services revenues for the quarter ended March 31, 2013 were $97.6 million compared to $89.7 million for the quarter ended March 31, 2012.
Rohit Kapoor, Vice-Chairman & CEO, said, "In the first quarter, EXL posted sequential growth in our outsourcing business, due to contributions from our insurance and healthcare and utilities verticals. Our transformation business started the year slowly, similar to last year. We are investing in strategic growth initiatives such as decision analytics and healthcare business process management."
Vishal Chhibbar, CFO, stated, "In the first quarter, EXL generated revenues of $116.0 million, up 11% year-over-year, driven by 9% growth in outsourcing and 24% growth in transformation services. The constant currency revenues grew 18% year-over-year. For 2013, we are maintaining our revenues guidance of $495 million to $505 million and our adjusted diluted EPS guidance of $1.77 to $1.85."
Gross margin received for the quarter ended March 31, 2013 was 37.1% compared to 36.3% for the quarter ended March 31, 2012 and 40.1% for the quarter ended December 31, 2012. Net income was $9.8 million for the quarter ended March 31, 2013 as compared to $8.9 million for the quarter ended March 31, 2012. Per share diluted earning achieved for the quarter ending march 31, 2013 were $0.29 compared to $0.36 for the quarter ended December 31, 2012.
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