The growing success of Indians in Corporate America may be attributed to the brutally competitive Indian school system, an understanding of technology and loyalty to one's company
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
Of the revenues, 46 percent came from the USA, 36 per cent from the UK and 18 percent from rest of world, including India, the release said.
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.
Ace investor Rakesh Jhunjhunwala bought 2.5 crore shares (3.8 percent stake) in BPO company Firstsource Solutions at Rs 10 apiece via block deal on Thursday.
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.
Subramaniam was part of the founding management team at Firstsource in 2002 where he served as CFO.
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.
Firstsource Solutions said that Matthew Vallance has step down as CEO and Rajesh Subramaniam has elevated to MD & CEO, reports CNBC-TV18.
Business process outsourcing firm Firstsource today announced the appointment of Rajesh Subramaniam as Deputy Managing Director and Chief Financial Officer (CFO), with effect from August 1, 2011.
Walden International (WI), a leading global venture capital firm, announced today the successful closing of a $6 million Series A round for BankBazaar.com. Walden International was the sole investor for this round.