Driven by strong demand, BPO major Genpact today posted a 28.2 per cent jump in net income at USD 36.1 million for the quarter ended March 31, 2011 and has forecast strong full-year revenue.

The net income attributable to Genpact shareholders stood at USD 28.2 million in the first quarter of 2010, Genpact said in a statement.

"Genpact delivered a very good quarter, with strong growth in revenues, income, earnings per share and cash flows.

Revenues from business process management services for Global Clients continued to be our growth engine," Genpact President and CEO Pramod Bhasin said.

Revenues stood at USD 330.6 million for Q1 FY2011, up 14.7 per cent from USD 288.2 million in the same quarter of 2010.

The company has also raised its annual revenue growth outlook to 23-25 per cent, taking into account its acquisition of rival Headstrong last month.

"With the acquisition of Headstrong, we now expect full year revenue growth of 23?25 per cent for the year. This reflects Genpact full year revenue growth of 10?13 per cent plus 8 months of revenues from Headstrong," Bhasin said.

The company had announced the acquisition of consulting and IT services firm Headstrong Corporation for a cash consideration of USD 550 million.

Revenues from clients other than GE, referred to as global client revenues (contributing about 65.9 per cent to Genpact's revenues) grew 23.6 per cent.

About 87.2 per cent of Genpact's revenues for the quarter came from BPO services, while IT services accounted for 12.8 per cent of the Q1 revenue.

As of March 31, 2011, Genpact had about 45,500 employees worldwide, an increase from approximately 41,300 as of March 31, 2010. Genpact's employee attrition rate for the quarter was 29 per cent, measured from day one of employment, an increase from 23 per cent for the same period in 2010.

The company had about USD 481 million in cash and cash equivalents and short term investments as of March 31, 2011.