Firstsource Solutions Q4 net profit rises 5.8 pct to Rs 98.2 cr

BPO firm Firstsource Solutions Monday posted a 5.8 per cent rise in consolidated net profit to Rs 98.2 crore for the quarter ended March 2019. The company's net profit stood at Rs 92.8 crore in the corresponding period of the previous fiscal, Firstsource said in a statement. Its revenue from operations grew 10.6 per cent to Rs 964.2 crore in the reported quarter from Rs 871.3 crore in the corresponding period of the last year, it added. The company's board has recommended a dividend of Rs 2 per share for the financial year ended March 2019.

"FY2018-19 has been a good year with growth in revenues and improved profitability. Our digital revenues are scaling up well and helping drive higher level of customer engagement and margin expansion," RP-Sanjiv Goenka Group and Firstsource Solutions Chairman Sanjiv Goenka said. Going forward, the company will continue to invest in technology and digital solutions that will empower clients to stay ahead of the curve, he added. Shares of the company were trading at Rs 49.80 apiece, higher by 1.74 per cent from its previous close on the BSE.

For the fiscal ended March 2019, the company saw its net profit was at Rs 377.7 crore, while revenue from operations increased to Rs 3,786.7 crore. "PAT (was) at Rs 3,778 million...(higher by) 24.9 per cent year-on-year normalising for a one-time deferred tax credit of Rs 241 million (Rs 24.1 crore) in Q3 FY2018 on account of reduction in Federal Tax rate in the US," the statement said.

Its total headcount stood at 18,712 people at the end of March 2019, with an addition of 117 employees in the quarter. Firstsource derived 33.3 per cent of its March quarter revenues from Healthcare, 27.5 per cent from Telecom and Media, 36.8 per cent from banking, financial services and insurance (BFSI) and 2.4 per cent from other verticals.