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WNS WNS Announces Fiscal 2022 First Quarter Earnings , Revises Full Year Guidance July 15 , 2021 NEW YORK & MUMBAI , India -- ( BUSINESS WIRE ) -- Jul . 15 , 2021-- WNS ( Holdings ) Limited ( WNS ) ( NYSE : WNS ) , a leading provider of global Business Process Management ( BPM ) solutions , today announced results for the fiscal 2022 first quarter ended June 30 , 2021 . Highlights - Fiscal 2022 First Quarter : GAAP Financials • Revenue of $ 253.2 million , up 21.9 % from $ 207.8 million in Q1 of last year and up 3.8 % from $ 243.9 million last quarter • Profit of $ 26.8 million , compared to $ 14.8 million in Q1 of last year and $ 27.5 million last quarter • Diluted earnings per ADS of $ 0.52 , compared to $ 0.29 in Q1 of last year and $ 0.53 last quarter Non - GAAP Financial Measures * • Revenue less repair payments of $ 236.3 million , up 17.3 % from $ 201.4 million in Q1 of last year and up 3.5 % from $ 228.3 million last quarter • ⚫ Adjusted Net Income ( ANI ) of $ 39.0 million , compared to $ 26.1 million in Q1 of last year and $ 36.7 million last quarter • Adjusted diluted earnings per ADS of $ 0.76 , compared to $ 0.50 in Q1 of last year and $ 0.71 last quarter Other Metrics • Added 7 new clients in the quarter , expanded 17 existing relationships • Days sales outstanding ( DSO ) at 32 days • Global headcount of 46,918 as of June 30 , 2021 Reconciliations of the non - GAAP financial measures discussed below to our GAAP operating results are included at the end of this release . See also " About Non - GAAP Financial Measures . " Revenue in the first quarter was $ 253.2 million , representing a 21.9 % increase versus Q1 of last year and a 3.8 % increase from the previous quarter . Revenue less repair payments * in the first quarter was $ 236.3 million , an increase of 17.3 % year - over - year and a 3.5 % increase sequentially . Excluding exchange rate impacts , constant currency revenue less repair payments * in the fiscal first quarter was up 11.4 % versus Q1 of last year and 3.0 % sequentially . Year - over - year , fiscal Q1 revenue improved as a result of reduced COVID - 19 headwinds , new client additions , the expansion of existing relationships , and currency movements net of hedging . Sequentially , revenue improvement was driven by broad - based revenue growth and currency movements net of hedging . Profit in the fiscal first quarter was $ 26.8 million , as compared to $ 14.8 million in Q1 of last year and $ 27.5 million in the previous quarter . Year - over - year , profit increased as a result of easing pandemic - related pressures , revenue growth driven by new logos and client expansions , currency movements net of hedging , lower amortization of intangibles expense , interest income associated with a tax refund , and a non - recurring tax benefit on liquid mutual funds . These benefits more than offset the impact of wage increases , contractual productivity commitments , the reinstatement of our corporate leave policy , and higher share - based compensation expense . Sequentially , Q1 profit decreased as a result of wage increases , contractual productivity commitments , higher share - based compensation expense , employee hiring in advance of revenue , COVID - related business continuity costs , and the reinstatement of our corporate leave policy . These headwinds were partially offset by increased revenue , reduced SG & A driven by Q4 bonus and incentive amounts , higher interest income associated with a tax refund , a non - recurring tax benefit on liquid mutual funds , and currency movements net of hedging . Adjusted net income ( ANI ) * in Q1 was $ 39.0 million , as compared to $ 26.1 million in Q1 of last year and $ 36.7 million in the previous quarter . Explanations for the ANI * movements on a year - over - year and sequential basis are the same as described for GAAP profit above with the exception of amortization of intangible expenses , share - based compensation costs and associated tax impacts , which are excluded from ANI * . From a balance sheet perspective , WNS ended Q1 with $ 311.3 million in cash and investments and $ 16.8 million of debt . In the first quarter , the company generated $ 15.3 million in cash from operations and incurred $ 7.7 million in capital expenditures . WNS also repurchased 1,100,000 ADSS at an average price of $ 77.31 per ADS , which impacted Q1 cash by $ 85.0 million . First quarter days sales outstanding were 32 days , as compared to 39 days reported in Q1 of last year and 30 days in the previous quarter . " We are pleased with our fiscal first quarter financial performance , as the company posted solid revenue growth and healthy margins . Despite challenges related to a spike of COVID - 19 cases in India during the quarter , WNS was able to execute well in a difficult environment , protecting the health and safety of our employees and the mission - critical operations of our clients , " said Keshav Murugesh , WNS's Chief Executive Officer . " The company continues to see significant opportunities to capitalize on an under - penetrated customer base , a strong new business pipeline , and a robust BPM market driven by demand for digital transformation and improved competitive positioning . " COVID - 19 The COVID - 19 pandemic is having a significant impact on the global economy , our clients ' businesses , and on WNS's operations , financials , and visibility . Revenue has been pressured by lower client volumes , delays in new business ramps , client concessions , and facility lockdowns which impact