UPDATE 2-WNS quarterly profit beats estimates

* Q2 adj earnings of $0.31/ADS vs est $0.29

* Q2 revenue beats estimates

* Says well-positioned to beat top end of 2010 outlook

* CEO: H2 margins to remain at current levels or get better

* Says co hasn't received new expressions of interest (Adds CEO comment)

By S. John Tilak

BANGALORE, Nov 4 (Reuters) - Back-office firm WNS Holdings Ltd (WNS.N) reported a quarterly profit that beat Wall Street estimates as it benefited from new bookings and an improvement in the business process outsourcing market.

The company said it was well positioned to beat the top end of its outlook range for the fiscal year ending March 31, 2010.

For fiscal 2010, it sees adjusted net income of $52 million on revenue less repair payments of $390 million.

WNS -- whose rivals include Genpact (G.N), Firstsource Solutions (FISO.BO) and ExlService (EXLS.O) -- was seeing particularly strong demand at its finance and accounting business, Chief Executive Neeraj Bhargava said.

"Customers are getting cautiously optimistic," Bhargava said in an interview with Reuters.

The company added five new clients in the quarter. Its top customers in fiscal 2009 included Aviva (AV.L), Biomet Inc, British Airways (BAY.L) and Centrica (CNA.L).

WNS sees the strength spilling over into the second half of fiscal 2010. The company expects margins in the second half to remain as strong as current levels if not better, Bhargava said.

Second-quarter net income attributable to WNS shareholders rose to $1.4 million, or 3 cents per American Depositary Share, from $0.2 million, or 1 cent per ADS, a year earlier. Excluding items, earnings were 31 cents per ADS. [ID:nWNAB9689]

Revenue rose 2 percent to $153 million. Revenue less repair payments was $100.2 million, an 8.1 percent decline.

Analysts expected earnings of 29 cents a share, excluding exceptional items, on revenue of $99.4 million, according to Thomson Reuters I/B/E/S.

The company has been the subject of buyout speculation. In August, WNS had said it received expressions of interest from various parties on a possible change of control.

In September, it said its board decided not to pursue further discussions with interested parties regarding a possible change of control transaction.

The company has not received any expressions of interest since then, Bhargava said.

Shares of WNS -- which also competes with business process outsourcing divisions of technology services companies such as Tata Consultancy (TCS.BO), Infosys (INFY.BO) and Wipro (WIPR.BO) -- closed at $14.36 Tuesday on the New York Stock Exchange. (Editing by Aradhana Aravindan, Vinu Pilakkott)