Firstsource Solutions gains as subsidiary makes quarterly repayment on its outstanding debt

Firstsource Solutions rose 1.32% to Rs 46.10 at 13:02 IST on BSE after the company said its US-based subsidiary successfully made its eighth quarterly repayment on its outstanding debt on 31 March 2015.

The announcement was made during trading hours today, 30 June 2016.

Meanwhile, the BSE Sensex was up 163.86 points, or 0.61%, to 26,904.25

On BSE, so far 6.21 lakh shares were traded in the counter as against average daily volume of 6.06 lakh shares in the past one quarter. The stock hit a high of Rs 47 and a low of Rs 45.80 so far during the day. The stock hit a 52-week high of Rs 48.85 on 10 June 2016. The stock hit a 52-week low of Rs 25.15 on 25 August 2015. The stock had outperformed the market over the past 30 days till 29 June 2016, rising 14.47% compared with Sensex's 0.27% gains. The stock had also outperformed the market in past one quarter, rising 35.01% as against Sensex's 5.52% rise.

The small-cap firm has equity capital of Rs 674.42 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 fifth quarterly repayment of $11.25 million on its outstanding debt on 30 June 2016.

Firstsource Solutions' consolidated net profit rose 38.53% to Rs 79.67 crore on 6.71% rise in total income to Rs 874.97 crore in Q4 March 2016 over Q3 December 2015.

Firstsource Solutions is a leading global provider of customized Business Process Management (BPM) services to the Healthcare, Telecom & Media and Banking & Financial Services industries. It has operations in India, Philippines, Sri Lanka, UK and US.

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