Company: G
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001398659-25-000109
Chunk: 205

Company: Genpact LTD
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 8
Chunk 205
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 of intangible assets acquired in prior periods, partially offset by the amortization of acquired intangible assets from our recent acquisition of XponentL. For additional information, see Note 3—“Business Acquisitions” under Part I, Item 1—“Unaudited Consolidated Financial Statements” above.

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Other operating (income) expense, net. Other operating expense (net of income) was $7.5 million in the nine months ended September 30, 2025, compared to other operating income (net of expense) of $5.6 million in the nine months ended September 30, 2024. During the nine months ended September 30, 2024, we recorded a gain upon the redemption of a loan note associated with the sale of a business previously classified as held for sale and the waiver by a vendor of a liability, with no corresponding income recorded in the nine months ended September 30, 2025. During the nine months ended September 30, 2025, we recorded a charge related to the abandonment of certain leased premises with no such corresponding charge in the nine months ended September 30, 2024.

Income from operations. As a result of the foregoing factors, income from operations as a percentage of net revenues increased from 14.5% in the nine months ended September 30, 2024 to 14.7% in the nine months ended September 30, 2025. Income from operations increased by $42.9 million from $511.9 million in the nine months ended September 30, 2024 to $554.7 million in the nine months ended September 30, 2025, primarily due to higher gross margin, partially offset by higher SG&A expenses in the nine months ended September 30, 2025 compared to the nine months ended September 30, 2024.

Foreign exchange gains, net. We recorded a net foreign exchange gain of $5.3 million in the nine months ended September 30, 2025, compared to $4.4 million in the nine months ended September 30, 2024. The gain in the nine months ended September 30, 2025 and 2024 was primarily due to the depreciation of the Indian rupee against the U.S. dollar. 

Interest income (expense), net. Our interest expense (net of interest income) was $37.7 million in the nine months ended September 30, 2025, up