Firstscource Solutions gains after setting up offices in Australia, New Zealand

Firstsource Solutions advanced 1.48% to Rs 306.05 after the company set up its operations in Australia and New Zealand to be headquartered in Victoria.

The company will be headquartered in Victoria, Melbourne, creating over 400 new local jobs over the next five years.

The said operations will help to grow the states digital capabilities, bringing new proprietary technology and driving more research, innovation, and growth in the states digital ecosystem. The company plans to partner with Victorian education institutions to set up an innovation lab focused on AI, engineering, robotics, and digital experimentation.

Sanjiv Goenka, Chairman of RPSG Group and Firstsource, said, Expanding our operations into Australia marks a significant milestone in Firstsources global growth strategy. We see this as an important opportunity to leverage not just the immense opportunities the country presents, but also the outstanding support provided by the government in ease of doing business and building a stronger local economy. We are delighted by the support and partnership provided by the Victorian Government toward setting up our operations and look forward to contributing meaningfully to the growth and success of both our business and the local economy.

Jacinta Allan, Premier of Victoria, commented, Securing Firstsources Australia and New Zealand headquarters will create hundreds of jobs and boost our thriving digital innovation ecosystem. Melbourne is Australia's leading tech city it's no surprise that global leaders are continuing to invest in Victoria.

Firstsource Solutions is a global provider of business process management (BPM) services and an RP-Sanjiv Goenka Group company.

The companys consolidated net profit increased 7.3% to Rs 135.25 crore on 16.8% rise in net sales to Rs 1,783.87 crore in Q1 FY25 over Q1 FY24.

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