Firstsource Q4 net falls 15.7% at Rs 65.4 crore

BPO firm Firstsource Solutions today reported a decline of 15.7 per cent in its consolidated net profit at Rs 65.4 crore for the fourth quarter ended March 31, 2017.
The company had posted a net profit of Rs 77.5 crore in the same period a year ago.
The consolidated revenue of the company rose by 2.6 per cent in the fourth quarter to Rs 892.3 crore from Rs 869.4 crore in the same period of the previous fiscal, Firstsource Solutions said in a statement.
For the entire fiscal 2016-17, its net profit rose 7.5 per cent to Rs 280 crore, while revenue grew 10.5 per cent to Rs 3,555.6 crore as compared to the previous fiscal.

"We have successfully navigated headwinds and continued our trajectory of growth for the year with revenues growing by 10.5 per cent year-on-year and operating EBIT expanding 15 per cent y-o-y," RP-Sanjiv Goenka Group and Firstsource Solutions chairman Sanjiv Goenka said.
The company had 25,871 employees as of March 31, 2017. This is higher by 1,985 people compared to the previous year and lower by 121 people from the October-December 2016 quarter.

As of March 31, Firstsource derived 55 per cent revenue from the US, 38 per cent from the UK and 7 per cent from rest of world, including India.

About 32 per cent revenues came from telecom and media segment, 36 per cent from healthcare and 32 per cent from BFSI.
Firstsource now has 48 centres with the addition of two delivery centres each in the US and the UK, the statement said.
In late afternoon trade, shares of the company were trading at Rs 40 apiece, down 4.19 per cent from its previous close on the BSE.