Firstsource Solutions Q1 revenues up 6.5 percent to Rs 7,191 million

Firstsource Solutions revenue rose 6.5 percent to Rs 7,191 million in the first quarter of fiscal 2014 from the same period previous year.

Operating EBIT (earnings before interest and tax) increased 86.5 percent to Rs 624 million.

Net profit grew 41.6 percent to Rs 410 million.

Firstsource Solutions’ employee reduced by 249 to 31,623 as of June 30, 2013.

Q1 attrition in offshore (India and Philippines) rose to 52.7 percent compared to 49.2 percent in Q4 FY 2013.

Onshore attrition (US and Europe) increased to 39.9 percent compared to 34.4 percent in Q4 FY 2013.

Attrition in domestic (India and Sri Lanka) increased to 101.3 percent compared to 87.9 percent in Q4 FY 2013.

Firstsource generated 46 percent of Q1 revenues from the US, 34 percent from UK and 20 percent from Rest of World, including India.

45 percent of first quarter revenues came from telecom & media, 32 percent from healthcare, 22 percent from BFSI and 1 percent from others.

“Our focus continues to be on disciplined growth and consistent margin expansion. The productization efforts in customer insight analytics and webchat solutions are delivering better margin profiles and are great value add to our clients businesses,” said Rajesh Subramaniam, managing director & CEO.

The Customer Management and Healthcare business continues to look positive with new client wins.

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