Firstsource Solutions spurts after US unit makes repayment on outstanding debt

Firstsource Solutions rose 5.30% to Rs 30.80 at 15:11 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, 31 March 2015.

Meanwhile, the BSE Sensex was up 7.34 points, or 0.03%, to 27,983.20.

On BSE, so far 8.97 lakh shares were traded in the counter. The stock hit a high of Rs 31.55 and a low of Rs 28.80 so far during the day.

The stock hit a 52-week high of Rs 44.30 on 23 September 2014. The stock hit a 52-week low of Rs 25.05 on 31 March 2014.

The stock had underperformed the market over the past one month till 30 March 2015, falling 8.31% compared with 4.72% decline in the Sensex. The scrip had also underperformed the market in past one quarter, falling 13.08% as against Sensex's 2.09% rise.

Firstsource Solutions said that Firstsource Group USA, Inc, a wholly-owned subsidiary of the company, has successfully made its eighth quarterly repayment of $11.25 million on its outstanding debt on 31 March 2015.

On a consolidated basis, net profit of Firstsource Solutions rose 19.04% to Rs 57.51 crore on 7.77% decline in net sales to Rs 737.26 crore in Q3 December 2014 over Q3 December 2013.

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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