Firstsource inches up as subsidiary makes quarterly debt repayment

Firstsource Solutions rose 1.21% to Rs 37.50 at 14:51 IST on BSE after the company said its wholly owned subsidiary has successfully made its quarterly repayment of $11.25 million on its outstanding debt.

The announcement was made during market hours today, 30 December 2016.

Meanwhile, the S&P BSE Sensex was up 301.67 points or 1.14% at 26,667.82.

On the BSE, 1.15 lakh shares were traded on the counter so far as against the average daily volumes of 2.98 lakh shares in the past one quarter. The stock had hit a high of Rs 38.05 and a low of Rs 37.15 so far during the day.

The stock had hit a 52-week high of Rs 53.65 on 26 July 2016 and a 52-week low of Rs 28.85 on 17 February 2016. It had outperformed the market over the past one month till 29 December 2016, advancing 0.27% compared with the Sensex's 0.11% fall. The scrip had also outperformed the market in past one quarter, declining 5.12% as against the Sensex's 5.25% fall.

The small-cap company has equity capital of Rs 677.92 crore. Face value per share is Rs 10.

Firstsource Solutions said that Firstsource Group USA, Inc, a wholly owned subsidiary of the company has successfully made its seventh quarterly repayment of $11.25 million on its outstanding debt.

On a consolidated basis, Firstsource Solutions' net profit fell 2.86% to Rs 71.26 crore on 2.06% decline in net sales to Rs 857.21 crore in Q2 September 2016 over Q1 June 2016.

Firstsource Solutions is a global provider of customised BPM (Business Process Management). It operates in India, the Philippines, Sri Lanka, the UK and the US.

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