Genpact (G) Q2 FY2024 earnings: revenue $1.2 billion, up 6.4% on the year

Genpact Ltd. (G) reported revenue of $1.2 billion for Q2 FY2024, the quarter ended 30 June 2024, up 6.4% on the same quarter a year earlier. Net income was $122 million, up 4.9% on the year, and diluted earnings per share $0.67. The figures are the company's own, from the 10-Q it filed with the SEC on 9 August 2024.

Revenue$1.2 billionup 6.4%

Net income$122 millionup 4.9%

Diluted EPS$0.67

QuarterQ2 FY2024ended 30 June 2024

The quarter, against the one before and a year earlier

Line	Q2 FY2024	Q1 FY2024	A year earlier	Change on the year
Revenue	1,176	1,131	n/a	n/a
Cost of revenue	760	735	n/a	n/a
Gross profit	416	396	n/a	n/a
Gross margin	35.4%	35.0%	n/a
Selling, general and administrative	240	235	n/a	n/a
Operating income	170	160	n/a	n/a
Operating margin	14.5%	14.1%	n/a
Pre-tax income	162	156	n/a	n/a
Income tax	40.4	39.4	n/a	n/a
Effective tax rate	24.9%	25.2%	n/a
Net income	122	117	n/a	n/a
Net margin	10.4%	10.3%	n/a
Diluted EPS	$0.67	$0.64	n/a	n/a

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

Line	Q2 FY2024	Q1 FY2024	A year earlier	Change on the year
Operating cash flow	209	-25.6	n/a	n/a
Capital expenditure	19.3	24.0	n/a	n/a
Free cash flow	190	-49.6	n/a	n/a
Free cash flow margin	16.2%	-4.4%	n/a
Cash from investing	-19.7	-24.7	n/a	n/a
Cash from financing	251	-48.2	n/a	n/a
Depreciation and amortisation	23.8	24.2	n/a	n/a
Share-based compensation	18.4	9.2	n/a	n/a
Dividends paid	27.3	27.5	n/a	n/a
Dividend per share	$0.15	$0.15	n/a	n/a
Diluted shares, weighted	181m	182m	n/a	n/a
Shares outstanding at period end	178m	180m	n/a	n/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q2 FY2024	Q1 FY2024	A year earlier	Change on the year
Shareholders' equity	2,338	2,298	n/a	n/a
Short-term borrowings	0.0	50.0	n/a	n/a
Debt	1,634	1,244	n/a	n/a
Operating lease liabilities	176	181	n/a	n/a
Finance lease liabilities	8.7	5.9	n/a	n/a
Other liabilities	1,023	962	n/a	n/a
Total liabilities and equity	5,178	4,741	n/a	n/a
Fixed assets	200	194	n/a	n/a
Goodwill	1,678	1,680	n/a	n/a
Intangible assets	39.8	46.3	n/a	n/a
Cash and equivalents	914	478	n/a	n/a
Receivables	1,160	1,147	n/a	n/a
Other assets	1,187	1,195	n/a	n/a
Total assets	5,178	4,741	n/a	n/a

Quarterly results, the last 12 quarters

	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026
Revenue	1,136	1,146	1,131	1,176	1,211	1,249	1,215	1,254	1,291	1,319	1,296	1,343
Cost of revenue	733	739	735	760	780	803	786	804	822	837	824	853
Gross profit	403	408	396	416	431	446	429	450	470	482	472	490
Gross margin	35%	36%	35%	35%	36%	36%	35%	36%	36%	37%	36%	36%
SG&A	230	237	235	240	243	249	241	266	262	277	270	294
Operating income	166	163	160	170	182	190	184	179	192	195	199	193
Operating margin	15%	14%	14%	14%	15%	15%	15%	14%	15%	15%	15%	14%
Pre-tax income	155	158	156	162	175	183	175	177	189	189	194	191
Tax rate	24%	-84%	25%	25%	24%	22%	25%	25%	23%	24%	24%	24%
Net income	118	291	117	122	133	142	131	133	146	143	148	146
Net margin	10%	25%	10%	10%	11%	11%	11%	11%	11%	11%	11%	11%
Diluted EPS	$0.64	$1.59	$0.64	$0.67	$0.74	$0.79	$0.73	$0.75	$0.83	$0.82	$0.86	$0.86
Operating cash flow	162	192	-25.6	209	228	203	40.4	177	308	287	-23.5	72.4
Capital expenditure	13.3	18.1	24.0	19.3	19.8	19.7	22.0	22.2	16.3	17.7	23.9	13.9
Free cash flow	148	174	-49.6	190	209	184	18.5	155	292	269	-47.5	58.5
Dividends paid	24.9	24.8	27.5	27.3	26.9	26.7	29.8	29.6	29.3	29.0	31.8	31.6
Shares outstanding	181m	179m	180m	178m	176m	175m	175m	174m	172m	170m	170m	168m
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-Q for the period ended 30 June 2024, filed 9 August 2024, accession 0001398659-24-000088: the filing on EDGAR. All of Genpact Ltd.'s filings: EDGAR company page.

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