Advertisment

Firstsource Q4 net up 6.9 p.c QoQ

author-image
CIOL Bureau
Updated On
New Update

MUMBAI, INDIA: BPO service provider Firstsource Solutions recently said that its net profit for the fourth quarter ended on March 31, 2010 jumped 6.9 per cent to Rs 35.6 crore, compared to Rs 33.3 crore for the previous quarter that ended December 2009.

Advertisment

The net profit was down 12.9 per cent YoY as compared to Rs 40.9 crore the company posted during the corresponding quarter in the previous fiscal, the company said in a press release.

Revenues stood at Rs 506.7 crore, up 3.2 per cent QoQ as against Rs 490.9 crore during the previous quarter and up 7.3 per cent compared to Rs 472.3 crore during the corresponding quarter in the previous year.

The company's operating earnings before interest and taxes (EBIT) stood at Rs 50.1 crore, a jump of 7.2 per cent on QoQ basis compared to Rs 46.7 crore for the quarter ended December 2009 and up 38.5 per cent compared to Rs 36.1 crore in the corresponding quarter in the previous year.

Advertisment

Profit after tax was up by 343.6 per cent to Rs 136.1 crore in FY 10 as against Rs 30.7 crore in the year-ago period. Revenues in FY10 stood at Rs 1,970 crore, up 12.7 per cent, as compared to Rs 1,749 crore in the year-ago period.

"Our profit has gone up as collection business outperformed on the back of seasonability. Our marquee client base continues to be a growth driver for us with eight of our top 10 clients having increased engagements with us during the course of this financial year," said Firstsource's managing director and chief executive officer, Ananda Mukerji.

The company's employee strength was 24,860 as of March 31, 2010 as compared to 21,570 as of March 31, 2009. It has hired 3,290 employees during the year. "We have hired 1,925 employees for India operation and 1,365 for oversea markets," Mukerji said.

"We were able to expand our margins in FY 10 by 190 bps due to a strong operational performance and significant improvement in capacity utilization. Moving forward, we will continue to focus on improving operational efficiencies to further improve margins," Carl Saldanha, Global Chief Financial Officer (CFO), Firstsource.

tech-news