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EX - 99.1 2 g - ex991_6.htm EX - 99.1 Exhibit 99.1 genpact Transformation Happens Here Genpact Reports First Quarter 2021 Results Total Revenue of $ 946 million , Up 2.5 % ( 1 % on a constant currency basis ) 1 Global Client Revenue of $ 853 million , Up 6 % ( 5 % on a constant currency basis ) 1 , 2 Diluted EPS of $ 0.47 , Up 7 % ; Adjusted Diluted EPS³ of $ 0.59 , Up 11 % Repurchased $ 134 million of shares at an average price of $ 40.68 per share NEW YORK , May 10 , 2021 - Genpact Limited ( NYSE : G ) , a global professional services firm focused on delivering digital transformation , today announced financial results for the first quarter ended March 31 , 2021 . " We had a strong start to the year , with first quarter revenue , adjusted operating income margin , adjusted diluted EPS , and cash flow all exceeding our expectations , " said " Tiger " Tyagarajan , Genpact's president and CEO . " The growing need of enterprises to leverage digital technologies and cloud - based analytics is creating a high demand for our solutions . These operations straddle multiple functions and buying centers opening new parts of our expanding addressable market . While I am pleased with the continued momentum we are seeing across our business , our hearts , minds and efforts are focused on supporting our teams in India and the Philippines who are being hit very hard by COVID - 19 while ensuring continued services to our clients . We appreciate the outpouring of support we have received from our clients during this difficult time . " Key Financial Results – First Quarter 2021 Total revenue was $ 946 million , up 2.5 % year - over - year ( 1 % on a constant currency basis ) .1 • • Revenue from Global Clients was $ 853 million , up 6 % 2 year - over - year ( 5 % on a constant currency basis ) 1,2 representing 90 % of total revenue , including $ 9 million of revenue from certain GE - divested businesses that is now included in Global Client revenue . Excluding the revenue from such GE - divested businesses , revenue from Global Clients increased 5 % year over year ( 4 % on a constant currency basis ) ¹ . Revenue from GE was $ 93 million , down 24 % year - over - year , representing 10 % of total revenue . This excludes $ 9 million of revenue from certain GE - divested businesses that is now included as Global Client revenue . If the revenue from these GE - divested businesses had been counted as GE revenue in the first quarter of 2021 , revenue from GE would have decreased 16 % year - over - year . Net income was $ 91 million , up 7 % year - over - year , with a corresponding margin of 9.6 % . Income from operations was $ 128 million , up 16 % year - over - year , with a corresponding margin of 13.5 % . Adjusted income from operations was $ 163 million , up 20 % year - over - year , with a corresponding margin of 17.2 % .4 Diluted earnings per share was $ 0.47 , up 7 % year - over - year , and adjusted diluted earnings per share3 was $ 0.59 , up 11 % year - over - year . • Cash generated from operations was $ 77 million , compared to $ 19 million utilized in the first quarter of 2020 . • Genpact issued $ 350 million principal amount of 1.75 % senior unsecured notes due April 2026 during the quarter . 1 Revenue growth on a constant currency basis is a non - GAAP measure and is calculated by restating current - period activity using the prior fiscal period's foreign currency exchange rates adjusted for hedging gains / losses in such period . 2 Global Client revenue for the first quarter of 2021 includes revenue from certain businesses divested by GE that we continue to serve as Global Clients . Revenue from such businesses has been counted as Global Client revenue beginning Jar 3 Adjusted diluted earnings per share is a non - GAAP measure . A reconciliation of GAAP diluted earnings per share to adjusted diluted earnings per share is attached to this release . 4 Adjusted income from operations and adjusted income from operations margin are non - GAAP measures . Reconciliations of each of GAAP income from operations and GAAP net income to adjusted income from operations and GAAP incon