Firstsource Q4 net down 16 pc at Rs 65 cr for forex loss

R P Sanjiv Goenka Group's outsourcing company Firstsource Solutions Ltd today announced a consolidated net profit of Rs 65.36 crore for the fourth quarter ending March 2017, down 15.7 per cent over that in the corresponding period last year due to forex losses.
"This quarter net profit was Rs 65.36 crore against Rs 77.52 crore in the corresponding period last year. The profit is lower due to forex valuation losses of Rs 35 crore impacted by Brexit," its Chairman Sanjiv Goenka said.
The revenue from services is Rs 864.36 crore during the quarter, 1.4 per cent higher compared to Rs 852.52 crore registered in the corresponding quarter last year.

The total outstanding debt is USD 66.25 million and the company is repaying USD 11.25 million every quarter.
Goenka said the Q1 of the current fiscal would remain muted. He, however, remained optimistic about growth in the the entire current fiscal.
In 2016-17, the company posted a growth of 10.5 per cent in revenue at Rs 355.56 crore.
Goenka said the company would move out of loss making Indian contracts. India accounts for six per cent of the total revenue of the company and the rest comes from the US and the UK.