Firstsource posts 12.3% rise in revenue in Q3

Firstsource Solutions, a global provider of customized business process management services, saw revenues of Rs8.844bn (USD133m) in Q3, up 12.3% year-on-year. The company, which has a “rightshore” delivery model with operations in India, Philippines, Sri Lanka, UK and US, also said its cash position for the quarter is at Rs1.22bn. Firstsource derived 55.1% of revenues from the US, 38.1% from the UK and 6.8% from the rest of the world, including India. As of 30 September, Firstsource had 48 centers, compared to 47 as of 30 June 2016. It has added 2 centers (one in India and one in UK) but shutdown one center in India.