Hope to achieve 10% bottomline growth in FY18; SKY to do well: Firstsource Solutions

Firstsource Solutions Ltd today announced a consolidated net profit of Rs 65.36 crore for the fourth quarter ending March 2017, down 15.7 percent over that in the corresponding period last year due to forex losses.

Sanjiv Goenka, Chairman, Firstsource commenting on the fourth quarter performance said they saw an impact of Rs 35 crore on account of currency.  However, going forward the first quarter could be muted but from the second quarter onwards things could be buoyant.

The first quarter will be largely similar to Q4FY17, said Goenka. Q1FY18 revenues could be between Rs 900-920 crore, he added.

However, despite all the currency uncertainties etc, the bottomline growth for FY18 would be around 10 percent, he said.

The company in February signed a 10-year contract with Sky Subscriber Services Ltd of UK. With this deal, UK has become an important market for the company. Goenka said business from SKY could go up because of Brexit.

For entire interview, watch video