WNS Shares Sink After A Top Client's Decision To Terminate

(RTTNews) - Shares of WNS (Holdings) Limited (WNS), are falling more than 18% Friday morning after the business process management company disclosed that one of its top five customers has given out a termination notice, effective July 1, 2024.

"For example, one of our top five customers by revenue contribution in fiscal 2024, which is in the HCLS SBU, served a termination notice on January 31, 2024. The customer accounted for 4.1%, 6.5% and 7.3% of our revenue and 4.3%, 6.8% and 7.9% of our revenue less repair payments in fiscal 2024, fiscal 2023 and fiscal 2022, respectively," the company said in a filing with the SEC.

WNS is at $58.89 currently. It has traded in the range of $51.84 - $94.96 in the last 1 year.