Firstsource Solutions’ net profits jump 16.58% in Q3FY23
MUMBAI, INDIA — Business Process Management (BPM) firm Firstsource Solutions’ net profit for the third quarter of FY2023 increased by 16.58% year-on-year (YoY) to ₹157.92 crores (US$19 million).
The company also posted a net sale of ₹1503.31 crores (US$181 million) in the same quarter, representing a YoY growth of 4%. Meanwhile, its EPS (Earnings per share) stood at ₹2.32.
Firstsource Solutions and RPSG Group Chairman Sanjiv Goenka said, “Firstsource delivered a steadfast performance amidst a challenging quarter. We fast-tracked our digital forays, continued our sharp focus on cost management, and formalized our commitment to sustainable growth by unveiling our first ESG report.”
“With a robust pipeline, an empowered workforce, and a diversified portfolio, we are poised to seize new market opportunities in the next few quarters,” Goenka added.
Considering the dividend announcement, Firstsource’s stock is trading at a dividend yield of 3% at the current market price. The stock touched a 52-week-high of ₹168.70 on (02-Feb-2022) and a 52-week-low of ₹93.00 on (20-June-2022).
Firstsource Solutions is a BPM pioneer that offers solutions for many sectors, like banking and financial services, mortgage lending, healthcare, communications, media, and technology. It is also currently subscribed to the OA Source Partner Program, a powerful tool that helps BPO firms with marketing, sales, and business intelligence. The program also co-promotes its partner BPOs to OA’s web traffic and inbound leads and assists them in generating sales.
