Genpact, one of India’s top outsourcing companies, sees pricing pressures across the industry stabilizing and sees its own pipeline increasing significantly. Genpact reported a1.7-percent drop in its third-quarter net profit, but its CEO said operating margins remain strong.

Pramod Bhasin, CEO and president of Genpact, said in an interview with CNCB-TV18 that they have great margins, which performed very well this quarter similar to the previous quarters. He added that they maintain their ability to drive productivity for their customers and their company.

Earlier this week, Genpact released its third-quarter financial results. Its net profit declined 1.7 percent from the previous year. However, Bhasin explained that the reason for its decline was mainly a result of shifts in interest rates and interest income, which had not affected their core business.

Genpact’s adjusted income from operations, however, went up to 8.8 percent to $53.8 million, from last year’s $49.5 million.

Bhasin said that the improvement in their earnings was because of their stronger pipeline and record-high win rates. He also mentioned a shortening of sales cycles that is also positively impacting the business.

Bhasin indicated that while pricing pressures are stabilizing they are here to stay and clients have a heightened expectations for cost reduction and productivity improvements. Despite these pressures, he expects Genpact to continue to grow and that they will accelerate hiring.