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EXL EXL Reports 2021 First Quarter Results April 29 , 2021 2021 First Quarter Revenues of $ 261.4 Million , up 6.3 % year - over - year Q1 Diluted Earnings Per Share ( GAAP ) of $ 0.93 , up from $ 0.65 in Q1 of 2020 Q1 Adjusted Diluted Earnings Per Share ( Non - GAAP ) ( 1 ) of $ 1.18 , up from $ 0.81 in Q1 of 2020 NEW YORK , April 29 , 2021 ( GLOBE NEWSWIRE ) -- ExlService Holdings , Inc. ( NASDAQ : EXLS ) , a leading operations management and analytics company , today announced its financial results for the quarter ended March 31 , 2021 . Rohit Kapoor , Vice Chairman and Chief Executive Officer , said , “ EXL had a strong start to the year with first quarter revenue of $ 261.4 million . Analytics growth accelerated with a 10.7 % revenue increase from the first quarter of 2020. Adjusted diluted earnings per share for the quarter was $ 1.18 , a 46 % increase year - over - year . Our data - led value creation framework is resonating well in the market and we are driving revenue expansion with our existing clients as well as signing new logos . While we are in a favorable demand environment with a strong pipeline of opportunities , we also face significant pandemic related challenges in our delivery geographies , particularly in India and the Philippines . " Maurizio Nicolelli , Chief Financial Officer , said , “ Based on our strong first quarter financial results , the growth momentum in the business and an expectation of continued fulfillment levels , we are increasing our revenue guidance for 2021 to be in the range of $ 1.04 billion to $ 1.07 billion , representing a 8 % to 11 % increase year - over - year on a constant currency basis , from 2020. Our adjusted diluted earnings per share guidance for 2021 is increasing to $ 4.00 to $ 4.30 , representing a 13 % to 22 % increase over the prior year . " 1. Reconciliations of adjusted ( non - GAAP ) financial measures to the most directly comparable GAAP measures , where applicable , are included at the end of this release under " Reconciliation of Adjusted Financial Measures to GAAP Measures " . These non - GAAP measures , including adjusted diluted EPS and constant currency measures , are not measures of financial performance prepared in accordance with GAAP . Financial Highlights : First Quarter 2021 • Revenues for the quarter ended March 31 , 2021 increased to $ 261.4 million compared to $ 246.0 million for the first quarter of 2020 , an increase of 6.3 % on a reported basis and 5.5 % on a constant currency basis from the first quarter of 2020 . Revenues increased by 5.0 % sequentially on a reported basis and 4.7 % on a constant currency basis , from the fourth quarter of 2020 . Reportable Segments Insurance Healthcare Emerging Business Analytics Total Revenues , net Revenues Three months ended March 31 , 2021 March 31 , 2020 Gross Margin Three months ended March 31 , 2021 March 31 , 2020 ( dollars in millions ) $ 91.1 $ 83.7 38.5 % 29.6 % 30.3 27.0 42.5 % 27.5 % 37.7 42.8 44.7 % 40.5 % 102.3 92.5 37.0 % 36.6 % $ 261.4 $ 246.0 39.2 % 33.9 % • Operating income margin for the quarter ended March 31 , 2021 was 15.9 % , compared to an operating income margin of 11.2 % for the first quarter of 2020 and operating income margin of 15.4 % for the fourth quarter of 2020. Adjusted operating income margin for the quarter ended March 31 , 2021 was 20.2 % compared to 14.8 % for the first quarter of 2020 and 19.7 % for the fourth quarter of 2020 . • Diluted earnings per share for the quarter ended March 31 , 2021 was $ 0.93 compared to $ 0.65 for the first quarter of 2020 and $ 0.94 for the fourth quarter of 2020. Adjusted diluted earnings per share for the quarter ended March 31 , 2021 was $ 1.18 compared to $ 0.81 for the first quarter of 2020 and $ 1.14 for the fourth quarter of 2020 . Business Highlights : First Quarter 2021 • Won 14 new clients in the first quarter of 2021 , with five in our operations management businesses and nine in Analytics . • Released LDS 2.0 , EXL's digital new business and underwriting solution for life and annuities insurers which includes a