Company: G
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001398659-25-000098
Chunk: 8

Company: Genpact LTD
Filing Date: 2025-08-11
Form: 10-Q
Item: Part I, Item 2
Chunk 8
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 (i) an increase in our support headcount and wage inflation, (ii) increased strategic investments in partnerships, alliances, and other sales and marketing capabilities and (iii) a higher allowance for credit losses in the second quarter of 2025 compared to the second quarter of 2024.

Amortization of acquired intangible assets. Amortization of acquired intangible assets was $4.3 million in the second quarter of 2025, down $2.3 million, or 34.2%, from $6.6 million in the second quarter of 2024. This decrease was primarily due to the completion of useful lives of intangible assets acquired in prior periods.

Other operating (income) expense, net. Other operating income (net of expense) was $0.0 million in the second quarter of 2025, consistent with $0.1 million in the second quarter of 2024. 

Income from operations. As a result of the foregoing factors, income from operations as a percentage of net revenues decreased from 14.5% in the second quarter of 2024 to 14.3% in the second quarter of 2025. Income from operations increased by $9.1 million from $170.3 million in the second quarter of 2024 to $179.4 million in the second quarter of 2025, primarily due to higher gross margin, partially offset by higher SG&A expenses in the second quarter of 2025 compared to the second quarter of 2024.

Foreign exchange gains, net. We recorded a net foreign exchange gain of $0.4 million in the second quarter of 2025 compared to $2.5 million in the second quarter of 2024. The gain in the second quarter of 2025 resulted primarily from gains on fair value hedges, partially offset by losses resulting from the appreciation of the Indian rupee against the U.S. dollar. The gain in the second quarter of 2024 resulted primarily from gains on fair value hedges and the depreciation of the Indian rupee against the U.S. dollar. 

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Interest income (expense), net. Our interest expense (net of interest income) was $13.5 million in the second quarter of 2024 and 2025. The weighted average rate of interest on our debt, including the net impact of interest rate swaps, increased from 4.4% in the second quarter of 2024 to 4.8% in the