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Firstsource Solutions shares hit 52-week high on strong Q1 show

In Q1 FY25, Firstsources' consolidated net profit rose over 1 percent on quarter to Rs 135.3 crore and revenue increased by nearly 7 percent QoQ to Rs 1783.9 crore.

July 30, 2024 / 14:08 IST
Firstsource, part of the RP-Sanjiv Goenka Group, is a global business process management firm offering solutions across healthcare, banking, financial services, communications, media, and technology.
     
     
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    Firstsource Solutions' share price surged over 4 percent to a 52-week high of Rs 278.94 on July 30, following a robust earnings report for the June quarter. The company also increased its FY25 constant currency revenue growth forecast to 11.5–13.5 percent, up from the previous range of 10–13 percent.

    At 1.30 pm IST, Firstsource shares traded 2.3 percent higher at Rs 273. The stock has gained 35 percent in the past six months, outperforming the Nifty 50 index which gained 15 percent during the same period.

    In Q1 FY25, Firstsources' consolidated net profit rose over 1 percent on quarter to Rs 135.3 crore and revenue increased by nearly 7 percent QoQ to Rs 1783.9 crore. The net profit and revenue also rose on an annual basis. The total expenses of Firstsource increased over 7 percent QoQ to Rs 1625.7 crore.

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    The (Earnings Before Interest, Taxes, Depreciation, and Amortisation) EBITDA of Firstsource rose to Rs 269.9 crore from Rs 250.3 crore in the quarter-ago period. The EBIT margin of the company stayed flat on a sequential basis at 11 percent. For FY25, Firstsource has set a EBIT margin guidance of 11-12 percent.

    Firstsources' total headcount rose to 29,231 from 27,940 in the previous quarter while its attrition reduced to 32 percent from 35.4 percent in the March quarter.

    Firstsource, part of the RP-Sanjiv Goenka Group, is a global business process management firm offering solutions across healthcare, banking, financial services, communications, media, and technology. The company has operations in the US, UK, India, Mexico, Australia, and the Philippines.

    Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

    Moneycontrol News
    first published: Jul 30, 2024 02:08 pm

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