Company: G
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001398659-25-000059
Chunk: 161

Company: Genpact LTD
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 8
Chunk 161
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ited Consolidated Financial Statements” above.

The following table shows the reconciliation of AOI to net income, the most directly comparable GAAP measure, for the three months ended March 31, 2024 and 2025:

 Three months endedMarch 31,20242025(dollars in millions)Net income$116.9 $130.9 Foreign exchange gains, net(0.8)(1.3)Interest (income) expense, net10.2 11.4 Income tax expense39.4 44.4 Stock-based compensation expense9.2 20.0 Amortization and impairment of acquired intangible assets6.9 4.3 Adjusted income from operations$181.9 $209.7 

50

The following table sets forth our AOI by segment for the three months ended March 31, 2024 and 2025: 

Three months endedMarch 31,Percentage Change Increase/(Decrease)202420252025 vs. 2024(dollars in millions)Financial Services$47.0 $58.2 23.8 %Consumer and Healthcare66.8 70.3 5.3 %High Tech and Manufacturing69.0 80.1 16.0 %Total reportable segment182.8 208.6 14.1 %Unallocated corporate expenses(1.0)1.1 NM*Adjusted income from operations181.8 209.7 15.3 %

*Not Meaningful

AOI of our Financial Services segment increased to $58.2 million in the first quarter of 2025 from $47.0 million in the first quarter of 2024, primarily driven by higher revenues and operating efficiency in the first quarter of 2025 compared to the first quarter of 2024. AOI of our Consumer and Healthcare segment increased to $70.3 million in the first quarter of 2025 from $66.8 million in the first quarter of 2024, largely due to higher revenue from large deal ramp-ups and an improvement in the revenue mix, with higher margins in the first quarter of 2025 compared to the first quarter of 2024. AOI of our High Tech and Manufacturing segment increased to $80.1 million in the first quarter of 2025 from $69.0 million in the first quarter of 2024, primarily driven by higher revenues and operating efficiencies in