Date:30/10/2007 URL: http://www.thehindubusinessline.com/2007/10/30/stories/2007103050840400.htm

Back Firstsource net jumps 143%

Our Bureau

Mumbai, Oct. 29 City-based pure play BPO firm Firstsource Solutions has reported a 143 per cent rise in its net profit for the quarter ended September 30 to Rs 45.6 crore as against Rs 18.7 crore in the corresponding quarter a year ago.

Revenue for the quarter was up by about 62 per cent to Rs 296.5 crore (Rs 183.2 crore).

On a sequential basis, the company’s net profit soared by 2.9 per cent, while revenues climbed by 5.2 per cent.

Strong traction in each of its service verticals coupled with increase in its domestic business have been the main drivers of growth, according to Mr Rajesh Subramaniam, Chief Financial Officer.

“Revenues from our domestic business now constitute about 13.2 per cent of our topline, up from 3.8 per cent in the corresponding year ago quarter and 10.9 per cent from the previous sequential quarter,” he told Business Line.

The company’s scrip was up by 1.19 per cent to close at Rs 74.85 on the BSE today.