Firstsource Q3 net profit down by 6.1 percent

R.P.-Sanjiv Goenka group-owned business process management company Firstsource Solutions Limited (FSL) Monday said its net profit declined by 6.1 percent at Rs. 575 million for the quarter ended Dec 31.

Its revenues of Rs.7,510 million for the third quarter (Q3) of the current fiscal were also down by 6.1 percent for the same timeperiod last fiscal which was pegged at Rs.7,998 million. Compared to the quarter ended Sep 30 this fiscal, revenues of Q3 were down by 3 percent.

The operating EBIT (earnings before interest and tax) for the company is marginally up by 0.6 percent at Rs.746 million compared to the Q3 of the last fiscal.

For the period April to December 2014, the firm's revenues decreased by 1.3 percent; however, the net profit rose by 28.3 percent.

As of Dec 31, the company's major share of the revenue came from USA at 49 percent followed by Britain at 36 percent.

As much as 44 percent of it was accounted from the telecom and media segment with 36 percent from the healthcare vertical. The bank and financial sector contributed 20 percent to its revenues.

"I am further pleased to announce that the company has made inroads and won incremental wins from existing customers," said company chairman Sanjiv Goenka.