Firstsource Solutions shares slip over 4% on Q1 earnings; key details
Net profit for Q1 came at Rs 125.9 crore against Rs 141.3 crore in the March quarter of previous fiscal.
- Aug 2, 2023,
- Updated Aug 2, 2023 1:46 PM IST
Shares of BPO sector firm Firstsource Solutions Ltd fell over 4% after the firm reported a 11% fall in net profit for the June 2023 quarter. Net profit for Q1 came at Rs 125.9 crore against Rs 141.3 crore in the March quarter of previous fiscal. Firstsource Solutions stock plunged 4.31% to Rs 140.70 against the previous close of Rs 147.05 on BSE. Market cap of the firm fell to Rs 9987 crore.
In a year, the stock has delivered returns of 35.38% and risen 38.79% this year. Total 3.44 lakh shares changed hands amounting to a turnover of Rs 4.95 crore on BSE. Firstsource Solutions stock hit a 52-week low of Rs 95.80 on December 26, 2022 and a 52 week high of Rs 147.45 on August 1, 2023.
In terms of technicals, the relative strength index (RSI) of Firstsource Solutions stands at 75.3, signaling it's trading neither in the overbought nor in the oversold territory. Firstsource Solutions stock has a one-year beta of 1, indicating average volatility during the period. Firstsource Solutions shares are trading higher than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day and 200 day moving averages.
Revenue fell to Rs 1526.69 crore for the first quarter ended June 30, 2023, as compared to Rs 1556.6 crore in the March 2023 quarter.
Total income fell to Rs 1530.9 crore in the June 2023 quarter against Rs 1569.4 crore in the previous quarter.
Profit before tax slipped 9.61% to Rs 155.29 crore in the June 2023 quarter against Rs 171.87 crore in the preceding quarter.
EPS in the June quarter came at 1.85 against Rs 2.07 in the preceding quarter.
Sanjiv Goenka, Chairman - RPSG Group and Firstsource Solutions, said, "The first quarter FY24 results for Firstsource reflect the success of our strong, domain-led offerings underpinned by our sharp client focus to help enterprises navigate rapid economic, technology, and consumer evolution. We deepened our partnership with our top client, demonstrating our capabilities as a trusted partner for growth. The significant investments in Digital solutions position us advantageously to capitalize on the increasing demand for solutions powered by Generative AI and Machine Learning. These efforts underscore our commitment to delivering value for stakeholders, and innovation to meet our clients' evolving needs.”
Firstsource Solutions is a leading provider of transformational solutions and services spanning the customer lifecycle across Healthcare, Banking and Financial Services, Communications, Media and Technology, and other industries.
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Shares of BPO sector firm Firstsource Solutions Ltd fell over 4% after the firm reported a 11% fall in net profit for the June 2023 quarter. Net profit for Q1 came at Rs 125.9 crore against Rs 141.3 crore in the March quarter of previous fiscal. Firstsource Solutions stock plunged 4.31% to Rs 140.70 against the previous close of Rs 147.05 on BSE. Market cap of the firm fell to Rs 9987 crore.
In a year, the stock has delivered returns of 35.38% and risen 38.79% this year. Total 3.44 lakh shares changed hands amounting to a turnover of Rs 4.95 crore on BSE. Firstsource Solutions stock hit a 52-week low of Rs 95.80 on December 26, 2022 and a 52 week high of Rs 147.45 on August 1, 2023.
In terms of technicals, the relative strength index (RSI) of Firstsource Solutions stands at 75.3, signaling it's trading neither in the overbought nor in the oversold territory. Firstsource Solutions stock has a one-year beta of 1, indicating average volatility during the period. Firstsource Solutions shares are trading higher than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day and 200 day moving averages.
Revenue fell to Rs 1526.69 crore for the first quarter ended June 30, 2023, as compared to Rs 1556.6 crore in the March 2023 quarter.
Total income fell to Rs 1530.9 crore in the June 2023 quarter against Rs 1569.4 crore in the previous quarter.
Profit before tax slipped 9.61% to Rs 155.29 crore in the June 2023 quarter against Rs 171.87 crore in the preceding quarter.
EPS in the June quarter came at 1.85 against Rs 2.07 in the preceding quarter.
Sanjiv Goenka, Chairman - RPSG Group and Firstsource Solutions, said, "The first quarter FY24 results for Firstsource reflect the success of our strong, domain-led offerings underpinned by our sharp client focus to help enterprises navigate rapid economic, technology, and consumer evolution. We deepened our partnership with our top client, demonstrating our capabilities as a trusted partner for growth. The significant investments in Digital solutions position us advantageously to capitalize on the increasing demand for solutions powered by Generative AI and Machine Learning. These efforts underscore our commitment to delivering value for stakeholders, and innovation to meet our clients' evolving needs.”
Firstsource Solutions is a leading provider of transformational solutions and services spanning the customer lifecycle across Healthcare, Banking and Financial Services, Communications, Media and Technology, and other industries.
Also read: Hot stocks on August 2, 2023: IRFC, Hawkins Cookers, Reliance Power, Sula Vineyards and more
Also read: Adani Wilmar Q1 results: Adani firm may report single-digit rise in profit, says Nuvama