Company: G
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001398659-25-000059
Chunk: 156

Company: Genpact LTD
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 8
Chunk 156
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 tax expense39.444.412.6 %Net income$116.9$130.911.9 %Net income as a percentage of net revenues10.3 %10.8 %

47

Three Months Ended March 31, 2025 Compared to the Three Months Ended March 31, 2024

Net revenues. Our net revenues were $1,214.9 million in the first quarter of 2025, up $83.7 million, or 7.4%, from $1,131.2 million in the first quarter of 2024. 

Adjusted for foreign exchange, primarily the impact of changes in the values of the euro, Australian dollar, Japanese yen and Indian rupee against the U.S. dollar, our net revenues grew 8.3% in the first quarter of 2025 compared to the first quarter of 2024 on a constant currency1 basis. We provide information about our revenue growth on a constant currency1 basis so that our revenue may be viewed without the impact of foreign currency exchange rate fluctuations, thereby facilitating period-to-period comparisons of our business performance. Net revenues on a constant currency1 basis are calculated by restating current-period activity using the prior fiscal period’s foreign currency exchange rates and adjusted for hedging gains/losses.

Our average headcount increased by 9.5% to approximately 142,900 in the first quarter of 2025 from approximately 130,500 in the first quarter of 2024.

Revenues by nature of services provided were as follows:

Three months ended March 31,Percentage Change Increase/(Decrease)202420252025 vs. 2024        (dollars in millions)Data-Tech-AI$523.8$581.911.1 %Digital Operations607.4633.04.2 %Net revenues$1,131.2 $1,214.9 7.4 %

Net revenues from Data-Tech-AI services in the first quarter of 2025 were $581.9 million, up $58.1 million, or 11.1%, from $523.8 million in the first quarter of 2024. This increase was largely driven by demand for our technology services and data capabilities services in the first quarter of 2025 compared to the first quarter of 2024.

Net revenues from Digital Operations services in the first quarter of 2025 were $633.0 million, up $25.