Loading...
Docoh

WNS Holdings Limited (WNS)

Participants
David Mackey Executive Vice President, Finance, Head of Investor Relations
Keshav Murugesh Chief Executive Officer
Sanjay Puria Chief Financial Officer
Gautam Bari Chief Operating Officer
Bryan Bergin Cowen
Ashwin Shirvaikar Citi
Mayank Tandon Needham
Maggie Nolan William Blair
Moshe Katri Wedbush Securities
Puneet Jain JPMorgan
Dave Koning Baird
Call transcript
Due to licensing restrictions, you must log in to view earnings call transcripts.
Operator

00:03 Good morning, and welcome to the WNS Holdings, Fiscal 2022 Third Quarter Earnings Conference Call. At this time, all participants are in a listen-only mode. After management’s prepared remarks, we will conduct a question-and-answer session and instructions for how to ask a question will follow at that time.

As a reminder, this call is being recorded for replay purposes. 00:23 Now, I would like to turn the call over to David Mackey, WNS' Executive Vice President of Finance and Head of Investor Relations. David?

David Mackey

CFO, welcome me fiscal I press today December CEO, financial Murugesh; and issued the earnings third third have Today's release you, our Keshav With and call. on XX:XX remarks WNS' This detailing Thank our focus on earlier to Bari. XXXX. XXXX our quarter WNS' COO, XX:XX Gautam Puria; A release on fiscal also available Sanjay XX, www.wns.com. the results Investor website Relations ended at for was results quarter the the section today. is of our will call,

Some include, could turn available provide of mind XX:XX non-GAAP but company's certain risks call that will to to for share-based actual taxes. goodwill This amortization Murugesh. materially differ call the is cause will over WNS' call. measures Keshav Keshav? risks limited ANI to expressed used discussed will These of Net believe management amortization throughout non-GAAP measures, compensation XX-F. document can in are statements non-GAAP operating operating margin, Reconciliations forward-looking defined GAAP on is I unknown of are like adjusted the subject will assets, defined factors impairment income to in results implied Such of investors. the and information financial to measures and as financial earlier repair in the today's as statements. revenue matters intangible those goodwill intangible forth reference share-based of financial the adjusted by that on which less net such these be associated known and from keep that those set Some forward-looking. to management are follows: defined this found now are today. is as results call, or uncertainties press not release would impairment; Please profit uncertainties we XX:XX the the and is be excluding be useful as company XX:XX also CEO, Form these issued During terms website. and all excluding margin compensation, payments; discuss revenue defined assets, or

Keshav Murugesh

good you, Thank David everyone. and morning, XX:XX

my an our sincere and WNS this sincerely ongoing all stakeholders of for healthy other BPM First one during demand huge We perform our In well sacrifices, in resilience third results of and employees to overall quarter, it. their thanks and deliver every appreciate to the fiscal solid clients, all, their environment. XX:XX effort, their families, their pandemic. continued key financial

data will guidance WNs’ provide differentiation have wanted financial currency grew prepared year-over-year. in in of I addition, to XX% Sanjay on momentum of quarter EPS revenue EPS third and our XX:XX XX:XX we and increased growth reflect net XX:XX This logos million, a increase Third and net In operating in third adjusted came reported $XXX.X basis XX.X% quarter revenue adjusted at representing margin Sequentially, XX constant and new added company and the quarter, on basis XX constant X.X% quarter, performance further of mid-point XX.X% constant XX.X% by year relationships. our highlight full currency. and expanded on the the a increased year-over-year strong of and $X.XX. existing X.X% remarks. revenue to posted a analytics details of our currency. practice. solid In reported XX.X% WNS his

already Specifically, of driving two key for delivering we capabilities, some the I our strategic and decades outcomes for through business our segment. XX:XX are approach, WNS benefits like new data has experience, to for clients, the our all business would and metrics discuss analytics clients.

the industry more experts and than on across our including solutions power geographies. and We solving co-creating focused science, and transformational and servicing data of domain, focused driven problems, with engineering X,XXX data industries are over clients. XX:XX harvesting by data leading on has currently practice clients, analytics analytics XXX Our data brands specific

clients. client capabilities integral solution revenues, XX:XX by we three new requirements cloud is technical BPM, transformation our combined all as with corporate As XX:XX In developing in for of analytics develop global requirements a learning strategy led domain analytics also that not AI translating our for have This deep WNS innovation. specific utilizing technology partner, strategic but foundational of relevant enable the part algorithms, core helped scale. line WNS, focused AI embed business us results incremental of to of at integrate enabled analytics made business our seeing for driven critical element every our specific we clients. to advertising has we existing an of data, domain into key which only strategy delivering. created then business to are was based The possible retailer, paid revenue digital end-to-end overall fact, a pillars on their the our knowledge, analytics optimize Our analytics our the customizing clients. well is is retail percentage Recently, into address unique the sector and This actionable believe also first we completely approach sub personalization. AI engines BPO solution a stream using and ability solutions, second we core to is state-of-the-art XX:XX personalization broader a with and have the as component online centricity. data sourcing sales, sector leading technology to of new understanding based today, an key is data models, deal. insights and a and as At our XX:XX a industry approach have

deliver deployed management creating client XX client dollars of for few rapidly significant in UAP and management and past and process across enables years at second level. XX:XX manage XX:XX airway as problems. XX:XX of airlines XX:XX claim In data now our certified a including clients platform I of based, ability an a proprietary addition, customer [Scents] partnerships The industries, migrate a easily pages For process service highly fraud, provide manufacturing, [ph] by actionable the to as cloud. by [Scents] data like capture importance strategies, data of processing of and is have reducing a system analytics the platform, UAP and domain companies, which on have One infrastructure both around and the platforms. developed enabling data, WNS previous today their our this subrogation the products summarizes engineering [ph], integration service our Powered for to one has continues has is these is clients client which plan, to bills, over and comprehensive our To the to world's WNS’ the the and highlight XX leveraging combine, certified Microsoft These vertical XX%. model. in and has an us well loss expectations differentiation verticals, imports actionable XX% the closure. recently in intelligent analytics platform. Platform. and data we analytics applies based, million insights. of save services while the [ph] from from combine end-to-end end-to-end is global intelligent developed notification ML, and IP to well provides cloud complex sets A as industry. This first well claims, millions become helping as in is and party and indemnity data XX:XX and costs then resources our workloads a models accelerated. manual NPS largest would financial platform is platforms indemnity cognitive, data as to internally [ph] across platform data capability embedded is of of to is to Analytics and you centric called, of and models, structured, generate has as call platform, banking part and proprietary platform, claims their is pillar insights, UAP, and transformation, information excess retail. algorithms platform a the to accuracy including deployed AI to cloud, invested our in enterprise of services, third including costs. have nature. as to unstructured increasing [Scents] data has been airlines mentioned [Scents] as contextualized on cost as amount AI into and the process XX:XX in X This reducing insurance, ML AWS. can frameworks, to XX:XX clients the increased help to being and management effort existing Now scanned group play WNS deployed been complete be expertise, on or large, It analyze ecosystem, build data now Azure This to unique with desperate enable cloud business modular specialized clients insurance plug solve create Unified

with [ph] first of term airway More revenue, and held and cash competition. area been conflict primary creating believe visibility to television with which strategic research strategy in pillar for of in the monthly significant reduction revised emerging up provide two the airlines functional pardon domain to pleased technology world's to a extension an dedicated central nature COE a in allowing including of leverages has to These our the market launch. requirements, our one capabilities product unique client, engagements spend, importantly, analytics their are market. approach emerging volumes, companies in over XX:XX XX:XX have high analytics improving to we flow. the a sales data in a and in is and value services organization. in is specialized clients XX:XX as third XX% this customized analytics, XX:XX of thereby for are our [dealer] beach on teams of we emerging and collect Overall, clients COE early resonating COE through capacity, The model excellence of scalable expenditures which in solutions own and as establish costs, The market developed tens with is delivered and reduction XX% analytics well which we the have provide model are bills, Today, XX% highly new me, The revenue, in really to focused the expansion. developed deliver platform millions of our the due increase relationship introduction progress pillars volumes, sales as media leading our beverage the dollars advertising capabilities assets serves long COE, and incorrect model, benefits head well to

In XX:XX average. our able approximately the As and offerings, combined segment rate company with company the has WNS’ addition, above well with delivering of add XX% analytics company of standalone result, revenue now because been a of data is associated our to total analytics WNS revenue. margins representing this business, grow embedded about practice and the value

including the partners new I potential employees, to aggressively Looking strategic growth our with clients We call benefits to shareholders, our domain forward, WNS to cost, healthy for state-of-the-art are value, believe clients, business now improve tight term focused reduce for pandemic remains and operating and stakeholders, ongoing as we by businesses. with The the Sanjay XX:XX associated Puria for by results, the related their as our the increase further analytics, CFO, opportunities for well like of well global despite all create markets. positioned are key knowledge. prospects discuss communities. pressure deep customer outlook. the transforming process culture long co-creation as advanced volatility looking WNS help XX:XX sustainable our and and about our efficiency, streams, delivering Sanjay? labor combining and to as to deliver Our on company expertise well global revenue over technology, these digitally their experience would remains now excited turn

Sanjay Puria

a year, million Sequential Thank Keshav. volumes. most in a and up revenue on quarter travel net constant fiscal across WNS the on quarter, basis. verticals, on based the you, in of revenue increased third up basis. expansion In at XX.X% existing revenue currency basis of constant by XX.X% new XX:XX broad logos, services, XX:XX and from $XXX.X increased last and a by currency million, driven came Sequentially, reported X.X% improvement X.X% geographies relationships posted net $XXX.X was same and and the

balances, short-term to share range expenditures. quarter in seat from metric, should Built in of at press capital we productivity year XX quarter the globally DSO the in XX% XX%, in the XX,XXX quarter rate third the given projections uncommitted at revenue the our as today, at meaningful company and visibility of travel company to and quarter operating favorable year. and XX:XX third previous British Sequentially, reported respect in to [$X.XX million three. expense recorded year-over-year expected at issued costs, in WNS than short-term XX% more $XX negligible and Adjusted Rupee as compared our income and third compared the attributable offset interest U.S. the income third was on our be improvement as during higher currency to for the last a XX% additional growth currently to believe In operating assumes increased levels, in the billion operating three movements average capital work which million margin count the for by diluted $X.X of seats. year now to This XXXX range are three in levels. fiscal offset quarter utilization net was based up were quarter Revenue basis leverage and representing rate decreased wage company's Consistent XX:XX to increased and reported for reported This guidance facility revenue Based fiscal net to high slightly of of XX:XX of decreased implies increased quarter. and revenue XX% addition, wage travel and the dollar of driven higher amount year, is margin days pressure net billion, compared quarter. of the With related XX% which WNS net in operating margin $X In $X.X million as XX of to on of Full shares. fiscal currency the visibility typically last do quarter hedging. quarter margin release our in have other company's versus attrition cash and and came leases. asset of result more XX:XX of The at quarter for metrics, in and fiscal a is travel The a of interest work XX% quarter a and $X.XX recorded key quarters. operating volumes XX:XX WNS last current XX.X% to not $XX Year-over-year, in compared in came the is adjusted quarter expense as questions. our for a measure quarter XX:XX XX.X%, adjusted for same of expense three increases, XXXX incremental favorable of favorable sales, income, quarter the benefits and other the variance market. XX:XX million of on rate quarter. home rate fiscal and reductions be any XXXX. a three cash approximately increased the in next a with in relating midpoint with last fiscal attrition leverage to facility expenses, to geographical net XX% was $X.XX income short-term million few diluted of incentive delivered per $XXX revised $XX.X Year-over-year income earnings open from provides XXXX. year-over-year were we expect XXXX. other volumes. million productivity WNS the in in write and $X.X and in seat XXXX The the the three asset net incurred the adjusted the and than on XX:XX million tax headwind reported balances average from not employee increased to XX% $X.XX and capacity operated down of share income to revenue XX.X% infrastructure requirement write to the full XXXX expense to facilities. large XX.X%, and year, assuming related and XX% quarter $X.X last the end result is XX:XX from of in to headcount same three quarter quarter, mix than Operator? from company's tax million, or Adjusted variance the Sequentially, sales. for of days income adjusted XX.X to fiscal company include for both operating the $XX.X currently from year exchange tax expects investments quarter. down quarter on in XX, million approach provided three, quarter end in We’ll profit and interest XX:XX and from last net to on As volumes XX including fiscal December $XXX back quarter, XXXX was XX:XX from the effective guidance basis. of XX:XX other XX% lower of billion] to With cash of X.XX third earlier $XX.X the on EPS We U.S. beyond XX% quarter $X.XX, pound quarter WNS XX:XX in the million effective and of result last generated constant the XX,XXX previous more rate stabilize total of be last million from years, of XX three the had rate [ph] million. exchange reduction activities guidance our debt. $X.XX at higher an and of $XXX.X respect days the remainder balances back in this up year cash WNS quarter. million and in range remainder of up mix our XXXX of last last operating call expenditures, to total quarter. dollar three company range, $X.XX last the of sequentially,

Operator

Instructions] Our first comes [Operator from Cowen. Bryan line XX:XX with of question Bergin the

is line open. Your

Bryan Bergin

in any Thank and consistent the omicron the been demand, And Question of of you. context if talk saw can quarter? more or ramps on travel? change about client or has last – Hi. recent you project in you spike XX:XX result a including that making with curious as industries, decision

David Mackey

me Sure, that take Let XX:XX Bryan.

can but But in Gautam of as change any chime omicron. the did January short well. result answer spike no. the with delays, volumes lead result, as perspective. I is in saw of of we the decision in half but from to the in from of behavior early get overall the client pandemic, whatsoever times, side, travel kind half volume first did answer travel short behavior We didn't the vertical associated think changes of in and demand, and this in similar think see the cancellations, We as here no the increase of in in quarter, the a in a terms travel very see on here I an terms vertical re-bookings December recent second a terms what we some making in of benefit the

Gautam Bari

almost be as travel vertical the besides verticals. Yes. and David continues demand across our all to has based growth been XX:XX extremely broad the mentioned, resilient And the

Bryan Bergin

Maybe the for new levels so detail talk about to provide you're that's evolved? can market as to then, margin the base? increasingly unit something on how good on go any us win hear. existing across that's there? this That's additional BPM growth serving motion And you And leading into engagements business and with the data analysts practice, relative our to you or Okay. is a XX:XX more

Gautam Bari

Absolutely. XX:XX

service banking we portion being this our we continues vertical functioned What and transformations requirements increasing. this practice, to has as in across of analytics key a standalone So a domain for that to from our So, in verticals see manufacturing some continue increase seen and and it clients – based besides and [indiscernible] the always area. agenda, unit the across financial consistent enabling we the need have digital and insurance XX:XX the embedded basis terms is unit, of and been group continues analytics drive with services, to verticals to all as and has research particular retail [indiscernible] a is, of part the rise. continue demand consistently

above particular you've what publish. above industry year, rate. growth standards XX% average margins this area, well is So north seen this corporate we Within the that that an and of are

David Mackey

been the to think think then So, color insightful. developing, with reason that increased of we've allowing in lead commentary more more is only and other stability that client's to to of XX:XX creating we been with make especially Gautam’s do I analytics some like it help that, WNS solutions. year, The analytics with capabilities within as increased processes offerings I'd replace embedding answer that offerings We've the XX:XX differentiate terms to sure we short think kind only around that to make everything with over the we also an with the ML the been an AI there lead I environment, WNS the last more analytics focused us there XX:XX for fact the but we always functional think to We've Bryan end analytics arrowhead. and has on we're I both. to seeing to end and always capacity do are us but to and analytics is add year-and-a-half. of though the cross everything lead within to allow is to do. are that had embedded analytics efficient, I of it, in analytics a in lead sell newer stability not

Bryan Bergin

much. very you Thank Okay. XX:XX

Operator

XX:XX Thank you.

the line comes next Ashwin question of Shirvaikar Citi. Our with from

Your open. line is

Ashwin Shirvaikar

based question and on wage I the more the for my longer-term for New obviously intermediate impacted XX:XX line trend, would the here. obviously seems because, think it qualitative revenues get possible Thank pieces I is size the margin margins. be explanation short-term. short-term you. good to and Happy example, trend facility top increase But folks impact, Year stuff

also quantification of view get to good be would the forward and a pieces? margin So,

Sanjay Puria

you those we even or shifting the whether short-term in continuation we know, though delivered That to flattening enough of increases forward, because pyramid of think whether the able where have of directional, of this the directionally it's as or the move the it's what whether a around believe and Ashwin, over it the forward high there I have compensation, addition. but agenda, it's capability levers wage right. seen work different some replacement higher with offset you absolutely really XX:XX can some digital whether resources going a be driving impact margin, be a whether all digital year So, of are So, with the it's geography. really we will to maintain know we our that our investment program, or XX:XX

David Mackey

cost, a So, some our those extent expenses that the able to and when just think enable with fiscal that's are incremental is, Ashwin, like to of pressure multiple similar adjusted that basis, there on I margins, to the to a is were automate that bottom the with right? to gone earlier. given from coming Sanjay of this much from that you functions has have operating year the I offset capability basis. able a up wage year do line our was have productivity to the a costs kinds tailwind up despite XX:XX attrition And I despite us our you the wage things coming having XX the but to has of at employee COVID with comments, of increases to have XX:XX to to think full costs point, and lot what year's looking right? ability travel drive been gone business we're reduced we've margin client a digitize headwinds, facility on this we've year, having Despite for. been to basis extremely cost, year-over-year basis by FX they're offset a two at productivity will that's us those impacts And associated offset more year-over-year incremental an add in basis, point right? that to and looking – look performance, where fact pressure costs, if FX. The becoming which incremental about productive, margin in alluding we to XX COVID, incremental XX:XX levers mean, wages, this Sanjay’s ago, employee year And on lesser

Ashwin Shirvaikar

it. Got XX:XX Understood. Got it.

just that talk through but to you're quarters quarter, expanding has a to revenue been you differentiation pieces guys maybe existing after And but here, as not of adding growth clients planning make And from lot new that could lot of it a going how – thinking impact the forward perspective? that, per you're to renewing, I and trend for you a but something just few also relationships of various the it's like frame expanding. you are of the of

Keshav Murugesh

you XX:XX Sure. as first Hey Ashwin, Year to this Keshav, I’ll take that. And of all, New Happy well.

question. great a that’s think I

just the just look The that to we the history the this this everyone in fact has before of I results This I right? spoke growth note that mention company, just in at The the of all biggest excitement thing about that. this. crisis, the the biggest we quarter middle is XX:XX announced. take quarterly and highest is want first of in really want to right probably pandemic, just happened this

growth look at the we're pipeline we talking the business same XX% has In at what just for addition, currency been have of the terms of market healthier. constant XX% with midpoint never a At XX:XX our the range. about towards year time, full guided in visibility,

whether that. bring that wanted prospects, geographies, pipeline and think I completely we whether and whether our is clients completely from is absolutely that is from are that kind XX:XX have our always the the new new is pipeline coming new age the broad all health it every around I it one in it of whether excitement it seeing know, is of we say You must coming of verticals, based across business, core into stunning. whether WNS. is it

not addition through. WNS out actually In in them transforming We've are these the to they're one a just their the in their existing say of that spoken with models of that, and that clients but going our terms every to shift model to and businesses XX:XX reaching the also adoption, of I past. words about must are help lot

We digital, leading and analytics we through this the as about research how Dave the that spoken earlier, lead have also and other, charge. mentioned but is

leading charge. is offering digital the Our

Our fact spectrum charge. some tech and very much understand that XX:XX relationships and have the vertical technology well appreciated. again leading great offering The providers the disruptors is is so across we of

operating the come countries to there business is, Obviously, was time made that a the a shoots, this I that want [ph] but in be And are will even what and manage going I UK today's this the come very green sign] opportunity look the airlines, resulting [bullish very to of some travel still continues sectors our of clients back time company well. in not at all to very, models And in are the that back. say as volatility reality going about So, normalcy. some quickly. announcements normalcy, those around is be but at solid is say XX:XX mean, to is would at think to back this our with in XX:XX again transformational extremely is, I all like point for looking we robust. We to interact to volatility spoke how expect, even them this learned sectors, has we I pipeline. all about

next this that, you this to Now, April, leave back year's obviously, we numbers, around better just want WNS. modeling lead deciding with for but I with it to will and of team in will specifics how been has never this come terms

David Mackey

X, right, of spot kind thing or of additions, first terms expansions, the XX:XX early new look growth of we're the XX:XX of the of horizon, In certainly which acceleration drive additions on drive year. us. new XX the when the to expanded will tracking Yes. year, total be new our the quarters year year new you are a the we've at expansions over growth, which you’re that last was that when about record expansions are last that XX we're And fiscal through revenue client the The growth. now signs at three one just relationships year but number additions what were we And to level. and at add exceeds drives for from to time this additions to short-term talk above you XX:XX a Ashwin, date, kind X, number year, of at ones the X the really additions

seeing So, you in QX what top is line, drive highest at hopefully you the momentum about in carry constant and currency at you metrics. and we're to history, don't line XX% that growth but see ever top a the not midpoint and in of expansions is build only XXXX an is out seeing is great Keshav acceleration XX% When helping organic momentum, didn't what QX. that and our but we this, implied signs again, having right when he having early accelerating in you're been performance the assuming metric midpoint additions XX:XX the year-over-year currency constant terms the that to you our what something to talked tell that able now, which in of have the in fiscal that on falling on a what look in the bottom. momentum growth really excited quarter-to-quarter is basis, you're those we've company's seeing that see So, translate

Ashwin Shirvaikar

XX:XX you Got it. Thank all.

David Mackey

Ashwin. XX:XX Thanks,

Keshav Murugesh

Thanks, XX:XX Ashwin.

Operator

XX:XX Thank you.

with question of Mayank Tandon comes next Our Needham. line from the

open. line Your is

Mayank Tandon

quarter. Congrats Thank the on XX:XX you.

headwinds improvements come sort margin can to then that help that year you see and you typically favorable seeing from climate, that And given from Given of related you a demand out? the any from productivity clients? your you Keshav called be, a maybe in maybe impact are that power different would comment play, mitigate pricing on into you see fee any Dave, really

David Mackey

getting increase service a let's clearly you on employees, basis. of our first that I'll Keshav are more is, that not ability will from current I not basis. especially there expensive, And year-over-year for and a then ownership, take But line where kind most stand important Gautam Spot-on. bottom bifurcate that's Our on pricing both quarter in for more the skills chime specialized first think well, cost of ownership. that. to at the pay environment, we to unit total or clients if in clients can the thing a XX:XX but cost pricing cut same will mistake quarter a the your is terms spot-on. Look, given that XX:XX of an Given total right? of as is

in at more end to more increases resources to of So, to these Mayank, not cost, day, fewer where total the able and is work. less or costs, those ownership there deliver pass critical, is this to going but automation we're rates ability cost our the because pay XX:XX So, yes, of of ability, leverage clients increasing same that through to technology type offset the to with the the right. make ability terms of will some our becomes expect of cover clients affordable to some to of the clients be fully that

these wage the onus some bottom yes, it's, able on line the be to there's but and productivity to to is ability So, doesn't some for make costs, through filter is client. to us us the deliver of increases manage the that manage to sure

Mayank Tandon

Thanks to growth helpful, as then mentioned bit the I we XX:XX see in read any manage on a did that that? Thanks. attrition, into that. follow-up for supply That's do Dave. And We to Does then And here, Sanjay start forward it side. way so just that? how shall about going slow from hiring does of compromise much sort continue if increase here? you think a

Sanjay Puria

XX:XX Yeah.

itself [ph] if you that, know, we perspective, helped FD] about did we growth there's know, the you the more people. and net there, this well some XX:XX from you quarter, So, drive during that we of first are fact, know we observed was if would seeing. you a to than you over from of hiring [X,XXX seen client you ramp a have than more almost down, addition So which reduction, would Africa mention you but South recall, definitely in during an what so not one our maybe half, revenue, have added ahead hired curve has what the that know X,XXX as the as of was

forward So, down. but by the ramp was will as visibility getting and South gross there that a even the based upset which move plant Africa during the we hiring, was continue, on quarter,

Mayank Tandon

in forward then – at going any maybe of efforts few should if the walk a through on could to that attrition, levels? levels, just expect to keep these we continues these And from it increase the way growth XX:XX compromise attrition and you does you. Thank

Keshav Murugesh

Mayank. XX:XX me So let that, take

let So me programs attract foremost, first in talent. retain that and the all categorically have mention place and to we

we not areas where have in will We it. attrition want the

the have specific much acceptable addition which very for areas higher, So, and provides it. value is be In levels. some but areas, model high where certain attrition within there areas, are other could our

a So, that to become talent want, but XX:XX have the engine not more we ensure on that business our WNS So, retain senior we first areas, of continuous sign growth second the some XX:XX thing all, deliver pulling ability all it the growth you importantly, well, business as fact The comfort. that lot business is is state we only, high supply, grow to faster, and magnet. in impacting talent WNS and not in to and leaders at and company. let in we to to at of give right has areas that Talent me going a talent into that that we're shows clearly high many same of new very we're so single interviewing adding personally in get of models are able expensive new into even every I'm day, to place right. the the time, seeing quality the that, certain it is to but

in confident that management hasn't such our programs. you So, the numbers, if the it's very, hot Mayank. about attrition talent it look a of overall And market very changed fact very spite much at

Mayank Tandon

the Congrats you, XX:XX quarter. Thank on Keshav.

Keshav Murugesh

very much. you Thank XX:XX

Operator

Blair. Nolan with XX:XX Our next question comes from the William line of Maggie

open. Your line is

Maggie Nolan

and congrats. much quarters to about your a talk kind last you versus the in little of Can kind there, advance future expecting next question what growth? dynamic on build and hired of of how kind bit the over XX:XX To that support several you're, the of goals hiring Thanks you've

David Mackey

accelerated XX:XX we're to Sure. know to Look, we that I revenue QX. things Maggie, the QX versus hire have think here to in going deliver there's right. two One,

enable how QX going But QX. because travel travel the we So, QX, in when X,XXX QX Now in majority what believe lot they for do typically here advance QX, very business I significantly point, will One increases QX. that some and go to that's the And in XX:XX the vertical? didn't on net they new We prepare we generate in vertical that people biggest we guide and right? wins here to in and this travel a twofold, to do happens build what wildcard on our second need many QX, bottom in hired, into be of happens again the not took the and then us to clients here increases expect just we but that is, travel increase, what think it in based resources were is is, hiring. hiring say train line in I end the revenue, us QX model. of So, is revenue should make here be and out to people. those people hire just here that do plan hiring of happens hire include be place resources, based of a and the do vast the for know the it that to to what require when doesn’t sign those which with today, XX:XX is, we committed saw short-term commitments for guide, difficult QX the honestly, right? us sits significant volume at function come business we're QX add then don't doesn't where going that include we with tail of with new hiring of we demand, a into will XX:XX right? in So, a in This

Maggie Nolan

then here, of is talk topic And engagements of for and analytics pricing particularly how the work, work? can in work through a on nuances much Thanks. this you different XX:XX the of analytics based embedded versus project context some

Gautam Bari

XX:XX is Yes. This Gautam.

areas based delivers the for client in then analytics of the that model, or the either terms terms the terms in function. the of that is work, adds a that the gain model of in the outcomes sending pricing, analytics advanced that UTP side And that or delivered of area which projects at revenue projects. bigger as in uptick need share consistently especially standard as area further of client. keep actually a our third to The we’re looking embedded place of terms on a is drives repetitive our you in the of analytics XX:XX models, through the different seeing or based the to second business fixed model, models where programs actually which different share profitability we is, So, moment gain FTE which client is the be of as model, a profitability worked of predominantly

David Mackey

from the specific embedded would analytics than It's client, said, work. to doing into contract. analytics from XX:XX we're think company doing bucket, that and project analytics really that another is fall for where perspective value And right? can't really just embedded that the revenue to you Yeah. is that industry So, pulled WNS but embedded that the nature, our we're good be XX:XX is XX% the finance analytics about to it's do X% excellence XX:XX to other into I business we're find work. The client long that a a it we're roughly specific and it's if revenue The So, our area recurring either majority, or what some WNS into Keshav majority what line. between goes functional on that's that standalone that some work doing or further analytics. it X% XX% really what falls it’s in X% vast that functional less report the of of it's what company we business, delivering We the of a total, the is where, we're Maggie, doing of work, company analytics that into overall do really the standalone of I Gautam question, strategy model centers it's is from term news project the work. revenue for separated as and where that or our of experience embedded of the dig relates things apart think bucket. is The customer work basis. great into This work completely we talked based separate because analytics on clients XX% we're managing that analytics a in is the into for into and also accounting you'll difference

Maggie Nolan

XX:XX all. Great detail. Thank you

David Mackey

XX:XX Thanks Maggie.

Keshav Murugesh

XX:XX Thanks Maggie.

Operator

XX:XX with line Wedbush Katri Moshe from of comes Our Securities. next question the

Your open. line is

Moshe Katri

maybe have Happy on vertical. get years numbers, Great that of I'll New XX:XX now into wanted a that this a replenish of bit then that's you've and pipeline? Year follow-up? Thanks. pandemic? Can how the Two walk to been us note of a through, change changing or go we're this seems dig able into everyone. Anything of feel It two about vertical, Thanks. things. you you the travel Are just some deeper I to to terms to, market? evolve, in kind you how of kind

Gautam Bari

XX:XX to Moshe. New you to Sure. Happy Year

space. last etcetera. we've over of So, of other through some in volume hotel perspective, [regards] from markets as the been has a the terms the And travel the vertical the just travel a U.S. of Domestic increases [ph] predominantly driven got the regions number quarters world, background, industry, of

their growth. seeing some that side significant are XX:XX is the dimension of share, XX most we channel to from thirdly area we industry and but good outcomes. consistently do start terms the of last of we a volumes and of that that’s Now hotels – the and OTA in terms more driven to volumes delivering traffic we of see the in happened new moving of in more quite is international that are see industry, area be will directly in over has number industry. consolidation increasing, anticipate of increasing it as the So a to wallet end clients, wins of terms benefiting and at been And and this expanding reflected BXC further clients the the in the have where have the here. airlines through over where where existing XX:XX driven into including is where been the we again, continue providing this greater that etcetera shift new with the client from volumes demand months, starts the the So, had have trust

Keshav Murugesh

I'll but is company’s we that fully industry. X% over impacted recover that bounce is XX:XX that of not got move we this we there as recovered, those the than forward, as X like the perspective, the have volumes move pandemic from right? forward a expecting months X% quarter after seen just are recovery And over And other still volume maybe to we we back entire revenue million the are add per it what last in believe still to XX

David Mackey

that in think customer of of OTA to that just one experience color has that how a of have our or one side the that customer change an an or fully terms XX:XX of forward, is think part seen on things that in with unique levels how that one that increasing So, who is forward. investment we focus it's go pre-pandemic, to over the of it's their travel down to know the created terms to a obviously customer that given perspective on new the of vertical makes that clearly seen we've be fundamentally of a huge is spectrum re-earn recovered from look expanding it's as you double to where challenges, clients at they certainly our existing We and we're these our still is I work And seen to behavior going Yeah. for larger whether operating market experience add of last several years believe on lot trust its going been differences change, need Moshe, has opportunity at piece think they got what relationships of a and us while XX:XX they knowledge, part clients going us. that we've of for were the interesting given travelers, believe the how are kind not across add side the huge given they a of the clear to understanding this are sense travel mentioned, they're the we've below operate airline to we couple had and with opportunity and clients vertical capability major to for and in well I them capability travel to crude we and but XX:XX the and need ability a it. the base Sanjay going side, we've our

So, very, very years. about next couple travel over of excited opportunity the the

Operator

Thank you. XX:XX

comes with Our Jain Puneet JPMorgan. question next

open. is line Your

Puneet Jain

XX:XX Hey, my question. thanks for taking

offices? increase So, quarter XXX cost from over facility model in terms the was versus employees increased I returning more was how significantly, to term medium employees see working by basis, quarter? home the And overall, and broadly, on offices expenses sometime XXX, it from during during do you delivery sequential count seats the this down was evolve related think the seat driven yet of

Sanjay Puria

XX:XX So, employee right over office cost work Puneet, from you the of point that increased the good from there, facility to absolutely you're model perspective. know, because office returning

had had from XX% and we quarter last So, working quarter, we XX% this office.

of consolidation if And XX:XX one insist reason. also have because one reason clients and from our exercise, have part what related a we and know, forward, forward, to you the we hybrid related mention South client of it's that. into the are about was move we those that the did with ready see seats, the how that's that another of reduction as accordingly, of ramp And invested we XX:XX how models, and the to and we one also. be we we our all facility. So, we that, behave work we works as synergy will a as move was of facility with the the how recall, anywhere, clients seat, So models on will accordingly, of we reduction all but African you and that. And down did [indiscernible] surrender of did our released

have out as from to I think spans things wait, we move will how here. So, we forward

David Mackey

Yes. XX:XX

though the percentage to term line. and allow that WNS, that for structurally of we home the think to same there's utilization we those organization, we I as news expenditure capital not would work we be what that's we us seat structurally on requirements know but forward believe this push good two types and sense along the for of Puneet work for some revenue the kind be longer the percentage entire up here, either is as want dust pandemic and of move trends, positive industry the settles numbers the get as hybrid work going be a or going done versus a in So, clients do to our will are to of expect office from is, just very better XX:XX the probably to of see remote. what reduce

Puneet Jain

pipeline are And your the about pipeline about of think year sales the within along? or think cycles coming rate? should growth like as your term Understood. XX:XX medium And deals the next bookings we and how how moment we

Gautam Bari

terms a size previous verticals. alluded in across to be and broadness multiple Keshav terms more of As question, XX:XX pipeline earlier the the of couldn't in robust

continues what are pipeline, could of transitions this end deal seeing in quickly. course, which to more of be our deals larger taken decisions is North amongst top some of are America to many in continue being starting very, up XX:XX actually seeing flow we are XX multiple ways. pipeline, into clients, the and up to by the lead we where the So, terms starting very

David Mackey

initiative. the XX:XX path So, end to a end a look, without kind going XX:XX that a transformational business kinds expansions terms in front perspective, lot accelerate accelerate have And are difficult it's once challenges add laid, proper the to, used an the think for to any what require of I very but effort obviously, without time example, in slow but will transformation of right? is XX:XX seeing think door mapping major in very have obviously is in a it taking of initiative, we of client less pace you Puneet pace I the do So, move number to the being from ability the our I deals a your to deals of pace end I road large ability processes you proper transformational additional client, foot the think expansions, through with I of to large our pipeline. an think than you're see pretty the think transformational acceleration the to just question, I mean, on with hyper the continue to.

Puneet Jain

XX:XX Understood. Thank you.

David Mackey

XX:XX Thanks, Puneet.

Operator

comes Instructions] with [Operator XX:XX Dave from Our next Koning Baird. question

line open. Your is

Dave Koning

pricing even and have too next XX:XX of cost rising hiring Yes, wages of it And hey fair and might you – saying, you about margins level, with [are guys. labor say at attrition, the kind question, much though and probably] mix are on you're don't year? margins the year because that usual. offsets you efficiency [ph] get first from different this is to Congrats. of Good made job comments, I lot a margins, guess just too as but a worry high

Gautam Bari

XX:XX Yes.

earlier, be as a stable well are the we leavers think the with different because there enough so technology pressure on around automation, what well margin there strategy, office, there to do I into road the But as, it, industry, to as expect somewhile those move are there percentages, are we absolutely is as that digital as the know, gap mix. we whole in are what return That's forward. we So, mentioned of XX:XX as Tier whole because is including you demand we I know you because for this to right that back be enough that, map as leavers You the X map Dave. are based the seeing supply enough leavers to going to road there. be cost geography, into definitely going are

David Mackey

want areas that, accelerate in investments those investments, can maintain are add we margins. So, kind will investments and traditionally I prospects those earlier. levers one about acquired, know of those investments we the and the attention as that with made And to hyper way you is the have WNS XX:XX to the continue wave progressing, every from the all and the will that that to also I all we where industrial accelerate and confident that make of clients XX:XX brand we automation getting just to make we leading will the we spoke have is continue is

want well. to as So, give that just comfort I

Dave Koning

And that's XX:XX great. Yes, Thanks. good.

Second but lower, kind lower years too? next XX%, it seems like expect of mix of guess a question, little guided made XX%, some a a little I quarter, the margins permanent bit remember tax a should we I of you last to and thing, tax on little I rate, lower comment about if geos think has created you've going that rate, the into maybe is be couple

Keshav Murugesh

perspective, XX:XX Philippines] be business you Yes, there, exempted sunset as we be XX% a how but be [consent] some the special whether of some And so think whether Earlier I be it into it's upon it is zone XX:XX XX% those the about will so the volatile from the impact it in to XX%, of we as or also range mix tax there, the forward think but be up can and can there. depends a forward. the those it our, there of again combination [Peso facility depending well it couple know businesses move come move will [ph] went accordingly, geography. a [ph], direction there will this of the right. over I XX%, So, the of to are economic from as quarter-over-quarter, in various movement percentage

David Mackey

resource to I Philippines we important year, XX:XX think our I'd also thing last that Dave, of in number the is through of where India, basis pandemic, is right? and resources it's in that, high add the only like note excess carried we profit excess height a carried pandemic. the to year-over-year of on other to a them the we carried So, geographies, the significant kind

less profitability resulted As that rate a result, was the geographies some higher tax tax effective the company. those for lower in of the and in

that normalization seeing the is of on what the that of a amount So, year-over-year of have you're to have. of kind relative part revenue basis of we we the resource amount

Dave Koning

makes It thanks guys. Well, you. Got XX:XX sense.

David Mackey

Dave. Thanks, XX:XX

Keshav Murugesh

XX:XX Thank you.

Operator

the next question with Wedbush Moshe Our from comes of line Katri XX:XX Securities.

open. Your line is

Moshe Katri

Thanks. Hey XX:XX

and wanted a follow-up disconnected had – I I before. Just got

needs the you end the year, be are getting of that we strong to adjusted road? the sustainable is assume revenue very mid-teens momentum fiscal and you down can of kind as suggested, the to So, closer the growth

David Mackey

add I be about the momentum have of today, mid-teens of year coming pace, will the to really you we talk this anything the was at headwinds the we what that we've be, next XX:XX Let to of I if the you currency headwind we be the XX% is organic the When that One look year, putting constant out growth, able that those think numbers. things bit that kind year Moshe. take consistently think right? me would had up continue the up year question Look, and putting now is today look a at actually that same the despite to obviously, a that fact we’ve but been at biggest question will little not didn't XX:XX right, outsized. we're

whether isn't that's is there we just guide got it be we've to on going So, thing on. X%, basis, it will revenues one then year? year. next you been that question to going year XX:XX question a plus larger able our headwind the grow guide of into not because number year. of next fact put going will when was be to on year a X%, usual, a be include that in up the for is gross earlier the the like for that biggest than I difference will think business year-over-year growth. the a for we example, large we've is So, to was we're if the next is, fiscal the be this us on based number X% The into going clients XX% short-term able obviously, fiscal the to to be renewed to And understanding I for real it think we fix

we year from a the that put So, perspective year. start headwind previous that a always creates actual terms up we numbers guidance in where fiscal the the versus

Moshe Katri

XX:XX Understood. Thanks for the color.

David Mackey

Thanks, XX:XX Moshe.

Operator

no Thank have will questions the your queue. you. for participation. today's time, in further At conference XX:XX Thank This we call. this conclude you

disconnect. now may You