Firstsource Q2 net profit dips 3.5 pc to Rs 68.8 cr

BPO firm Firstsource Solutions Ltd today said its consolidated net profit has declined 3.5 per cent to Rs 68.8 crore for the second quarter ended September.
Its net profit stood at Rs 71.2 crore in the year-ago period, Firstsource said in a statement.
Revenues fell 1.3 per cent to Rs 873 crore in the reported quarter from Rs 884.3 crore in the corresponding period of the last year, it added.
On sequential basis, net profit was up 5.1 per cent, while revenue was down 0.5 per cent compared to June 2017 quarter.
"The strong revenue and profit numbers have put us on an upward trajectory. We will continue our pursuit for excellence and deliver enhanced customer experience," RP-Sanjiv Goenka Group and Firstsource Solutions Chairman Sanjiv Goenka said.

During the quarter, Firstsource derived 52.2 per cent of its revenues from the US, 45.2 per cent from the UK and 2.6 per cent from India.

Healthcare vertical accounted for 36 per cent of the revenues, Telecom and Media 34.7 per cent and Banking, Financial services and insurance (BFSI) 29.2 per cent.
The company had 19,194 employees as of September 30, 2017, a reduction of 5,819 employees from the June 2017 quarter.
The attrition rate stood at 38.8 per cent for offshore (India and Philippines) operations and 53 per cent onshore (US and Europe).
Shares of the company closed 4.35 per cent down at Rs 41.80 apiece on BSE today.