The market is expecting CESC to go through a restructuring process but the company‘s Chairman Sanjiv Goenka said the board did not discuss this aspect in the meeting today. He said consultants are reviewing the restructuring exercise and will present to board soon. They are also evaluating various options of restructuring, he added.
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 deal pipeline of the company is very attractive and currently stands at around USD 400 million.
Margin expansion will flow through on back of interventions done over the last 12 months like weeding out of non-profitable accounts and weeding out lines of businesses that were bleeding cash, said Rajesh Subramaniam of Firstsource Solutinos
According to Rajesh Subramaniam, Q3 is seasonally a weak quarter for the company given the US holiday season but there has been improvement in profitability on account of actions related to low profitable or non-profitable accounts for which there was a methodical basis of shutting them down or renegotiating contracts
Firstsource Solutions has an obligation to repay USD 44.5 million of debt every year, which works out to nearly USD 11.1-11.2 million every quarter.
Firstsource Solutions' policy of hedging is on a rolling 12-18 month basis, so the benefit of rupee depreciation will start to accrue from Q3 onwards, extending into a good part of the next year.
Rajesh Subramaniam, MD & CEO, Firstsource speaks on the company's debt repayment plans.
Rajesh Subramaniam, MD & CEO of Firstsource Solutions, a Mumbai-based outsourcing company is confident of reducing the company's debt by USD 45 million to USD 155 million by the end of FY14.
Sanjiv Goenka, vice-chairman, CESC explains to CNBC-TV18 that investors' concerns about the company's foray into the BPO and retail sectors complement the company's core-business of power generation.
Recently, Firstsource had entered a deal with CESC, whereby the latter will acquire 49.5% equity in Firstsource for Rs 280 crore. Rajesh Subramaniam, Managing Director and CEO of Firstsource Solutions said the stake buy will not change the company‘s existing management.
Sanjiv Goenka of CESC told CNBC-TV18 the company will acquire 49.5% equity in FirstSource Solutions for Rs 280 crore.CESC is scheduled to buy 5% each from three FirstSource shareholders including ICICI, Temasek and Fidelity. Thereafter, CESC would provide an open offer at Rs 12.10 per share.
Managing director and chief executive of Firstsource Rajesh Subramaniam tells CNBC-TV18 that they aim to repay their FCCBs in full.
There has been a change of guard at Firstsource. In an interview to CNBC-TV18, Rajesh Subramaniam, managing director and chief executive officer of Firstsource says, the worst of the financial performance is behind the company.
Speaking to CNBC TV 18, managing director and CEO, Matthew Vallance, Firstsource Solutions said, there is a strong rebound in our telecom business sector.
Speaking exclusively to CNBC-TV18, MD & CEO Matthew Vallance said, the company normally sees a seasonal decline in the numbers from the fourth quarter.
In an interview with CNBC-TV18, Matthew Vallance, MD & CEO of Firstsource Solutions, spoke about the company's results and the road ahead.