Genpact Limited has announced financial results for the first quarter ended March 31, 2012.
N.V. "Tiger" Tyagarajan, President & CEO, Genpact, said, "Genpact had a great first quarter, with more than 30% growth in both revenues and adjusted operating income. The market environment overall is stable, with increasing interest in long-term, transformative business process management engagements. We are seeing continued strong demand for our Smart Decision Services offerings and accelerating demand for our IT services. Our pipeline remains healthy, reflecting both the investments we have been making in the front end and the slow recovery in the global markets."
Revenues from global clients grew 46.6% over the first quarter of 2011. Business process management revenues from global clients grew by 20.2% and were led by 61.4% growth in Smart Decision Services, which is comprised of Genpact's re-engineering, analytics, business consulting and enterprise risk consulting businesses. Revenues from global clients represented approximately 73.4% of Genpact's total revenues, with the remaining 26.6% of revenues, or $115.9 million, coming from GE. GE revenues increased 3.0% from the first quarter of 2011, adjusted for dispositions by GE.
As of March 31, 2012, Genpact had approximately 56,500 employees worldwide, up from approximately 45,500 as of March 31, 2011. Genpact's employee attrition rate for the quarter was 23%, measured from day one of employment, down from 29% for the same period in 2011. Annualized revenue per employee for the three months ended March 31, 2012 was $32,200, up from $30,700 for the three months ended March 31, 2011.
