Outsourcing firm ExlService Holdings today reported a growth rate of 15.8 per cent in its net income at USD 9.5 million (about Rs 46.55 crore) during the fourth quarter ended December 31,2011. The company had a net income of USD 8.2 million (about Rs 40.18 crore) during the quarter ended December 31,2010. The company's revenues for the quarter stood at USD 102.5 million against USD 70 million in the same period last year. "In the fourth quarter,EXL achieved record revenues of USD 102.6 million despite a foreign exchange headwind. Driven by strong client demand,revenues in 2011 grew 42.6 per cent to USD 360.5 million,exceeding our guidance of USD 354 million to USD 358.0 million," ExlService Holdings CFO Vishal Chhibbar said in a statement. For the calender year 2012,the company expects revenues between USD 445 million and USD 455 million,representing annual growth of 24-27 per cent. This excludes revenues from a one-time client payment received in 2011,it said. The company posted a net income of USD 34.8 million in 2011,compared to USD 26.6 million registered in 2010. Revenues in 2011 stood at USD 360.5 million as against USD 252.8 million in 2010,up 42.6 per cent. "2011 was a year of robust growth for EXL,with revenues increasing 42.6 per cent year-on-year. This growth was broad-based,and fuelled by new client additions,increased business volumes and process migrations with existing customers,and complementary acquisitions," ExlService Holdings President and CEO Rohit Kapoor said. The company's headcount stood at about 18,900 as of December 31,2011 compared to approximately 12,700 in the previous year.
