Firstsource Q4 net profit rises to Rs 92.8 cr

BPO firm Firstsource Solutions today posted 42.11 per cent rise in consolidated net profit at Rs 92.8 crore for the quarter ended March 2018.

The company's net profit stood at Rs 65.3 crore in the same period last year, Firstsource said in a statement.

Revenues from operations grew marginally to Rs 871.3 crore in the reported quarter from Rs 864.3 crore in the corresponding period of the last year.

The company's board has recommended a maiden dividend of 15 per cent or Rs 1.50 per share.

"I am pleased to share that we closed FY2018 on a high note. During the year, we have practically deleveraged the company on the back of improved cash flow generation and financial strength. Declaring a maiden dividend is a major milestone for the company," RP-Sanjiv Goenka Group and Firstsource Solutions Chairman Sanjiv Goenka said.

For the fiscal ended March 2018, the company saw its net profit increasing 16.6 per cent to Rs 326.5 crore, while revenue from operations stood at Rs 3,431.4 crore.

In its presentation to investors, Firstsource said healthcare and banking, financial services and insurance (BFSI) segments would lead the growth in financial year 2018-19 as sales pipeline across these verticals is robust.

Its total headcount stood at 18,703 people at the end of March 2018, with net reduction of 523 employees in the fourth quarter.