WASHINGTON - ibex (NASDAQ: IBEX), a global provider of BPO and customer engagement technology solutions, has been awarded a Gold award as a Top Exporter in the BPO services sector by the Pakistan Software Export Board (PSEB). Additionally, the company has been acknowledged as one of the Largest Exporters for IT/IT-enabled services in Pakistan. The recognition came during the Annual Export Awards 2024 Ceremony held on February 13 in Lahore, Pakistan.
The Federal Minister for IT and Telecom, Dr. Umar Saif, presented the awards, marking the first occasion PSEB has honored companies based on the highest export revenue growth over the past six months. Nadeem Elahi, Regional Head for Pakistan, Middle East, and North Africa at ibex, commented on the achievement, highlighting ibex's contribution to employment and economic development in Pakistan.
ibex's commitment to innovation is evident in its team of more than 400 professionals in Pakistan, who focus on developing AI-enabled customer experience (CX) solutions, including the Wave iX platform. This platform is instrumental in assisting leading companies with digital transformation, enhancing customer satisfaction through automation and insight-driven engagement.
Employing over 6,000 professionals across nine locations in Karachi, Lahore, and Islamabad, ibex Pakistan is at the forefront of BPO and IT export growth in the region. Globally, ibex operates 31 facilities and employs a workforce of over 30,000, managing nearly 200 million customer interactions annually. The company's solutions contribute over $2.2 billion in lifetime customer revenue each year.
The company's achievements in Pakistan reflect its broader global strategy to deliver superior customer experiences through industry-leading technology and a diverse team. This recognition by the PSEB underscores ibex's role in shaping the IT sector's contribution to Pakistan's economy.
The information for this article is based on a press release statement.
InvestingPro Insights
As ibex (NASDAQ: IBEX) secures its position as a top exporter in the BPO sector and a key player in Pakistan's IT services industry, the company's financial metrics offer additional insights. With a market capitalization of approximately $254.44 million and an attractive P/E ratio of 9.07, ibex demonstrates sound financial stability. The company's P/E ratio, when adjusted for the last twelve months as of Q2 2024, stands at an even more compelling 8.69, suggesting that the stock may be undervalued relative to its earnings potential.
Despite a slight decline in revenue growth over the past quarter, ibex's gross profit margin remains robust at 29.25%, reflecting efficient operations and strong cost management. The company's commitment to innovation and customer service excellence is not only recognized by industry awards but also reflected in its solid operating income margin of 7.14% for the same period.
InvestingPro Tips indicate that ibex's management has been proactive in enhancing shareholder value through aggressive share buybacks and that the company operates with a moderate level of debt, which is a reassuring sign for investors. Additionally, the stock's recent entry into oversold territory according to the RSI could signal a potential buying opportunity for discerning investors. For those looking to delve deeper into ibex's financials and future prospects, InvestingPro offers a wealth of additional tips, with 13 more tips available at https://www.investing.com/pro/IBEX. Use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking valuable insights that could guide your investment decisions.
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