Firstsource H1 show representative of full yr performance:Goenka

The performance of Firstsource in the first half of the current year is representative of the full year, says Chairman Sanjiv Goenka in an interview to CNBC-TV18 after the company reported its quarterly earnings today. "The first half performance will be what we would expect the year to finish at," he said.Goenka, who is also Chairman of the RP-Sanjiv Goenka Group said this quarter margins have seen an impact of rerating of the pound and higher incidence of tax.  Below is the transcript of Sanjiv Goenka’s interview to Anuj Singhal on CNBC-TV18.Anuj: Why the sequential weakness in your revenues?A: Revenue is down 1 percent over the first quarter. The revenue is up 12 percent over the same quarter last year and in constant currency terms, it is up 14 percent. So, this is a very good improvement and profits at a profit after tax (PAT) level is up 21 percent over same period last year.Sonia: So, in the first half you have done 16 percent growth versus a guidance of 10-12 percent for the full year. Will you up your guidance?A: The first half performance will be what we would expect the year to finish at. We do believe the first half is very representative of the full year.Anuj: Can you give us your outlook on margins?A: Frankly, if you look quarter-on-quarter we were 11.7 percent, this year we are 12.7 percent at an earnings before interest, taxes, depreciation and amortisation (EBITDA) level. There has been an impact of the devaluation or the rerating of the pound and it has gone from 100 to the rupee to the rating of 81 to the rupee. And that is reflected in these results. And we have a higher incidence of tax and so to that extent, that is also reflected, but quarter-on-quarter, we are better off.