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Firstsource reports Q4 results up by 7 percent
By siliconindia
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Friday, 29 April 2011, 01:14 IST
New Delhi: Firstsource Solutions, a BPO service provider reported its consolidated financial results for the quarter and for the financial year that ended March 2011 according to Indian General Accepted Accounting Principle (GAAP).
They reported a growth of 7.30 percent in consolidated net profit to 
38 crore for the fourth quarter which ended on March 31, 2011. They registered a net profit of 35 crore last year. For the full year end they had posted a net profit of 138.5 crore which went up to 1.83 percent from the last year of the same period.
Revenue of the company went to 5, 464 crore in January- March quarter, 2011 from 5, 067 crore in January- March quarter, 2010.
The company made a net addition of 1, 553 employees which came up to a total of 26, 413 as of March 31, 2011. Out of them 848 employees were added in India and 705 employees were added outside India.
Firstsource derived 57 percent revenue from U.S., 31 percent from U.K. and 12 percent from APAC region, including India. It also derived 37 percent from telecom and media, 36 percent from healthcare, 26 percent from BFSI and 1 percent from others.
The company at the end of the financial year has a cash and bank balance of Rs 324.6 crore.
Matthew Vallance, MD and CEO said,"The Q4 performance represented our fastest revenue growth and highest operating profit margins in the past 8 quarters. In the context of a year of change in leadership, we are encouraged by the progress we have made. We completed a strategic review of the business earlier this year and are confident that the initiatives we are undertaking will strengthen our position in our key business segments in the coming years. Going into the next fiscal, we expect higher revenue growth and improvement in operating margins."
38 crore for the fourth quarter which ended on March 31, 2011. They registered a net profit of 35 crore last year. For the full year end they had posted a net profit of 138.5 crore which went up to 1.83 percent from the last year of the same period.
Revenue of the company went to 5, 464 crore in January- March quarter, 2011 from 5, 067 crore in January- March quarter, 2010.
The company made a net addition of 1, 553 employees which came up to a total of 26, 413 as of March 31, 2011. Out of them 848 employees were added in India and 705 employees were added outside India.
Firstsource derived 57 percent revenue from U.S., 31 percent from U.K. and 12 percent from APAC region, including India. It also derived 37 percent from telecom and media, 36 percent from healthcare, 26 percent from BFSI and 1 percent from others.
The company at the end of the financial year has a cash and bank balance of Rs 324.6 crore.
Matthew Vallance, MD and CEO said,"The Q4 performance represented our fastest revenue growth and highest operating profit margins in the past 8 quarters. In the context of a year of change in leadership, we are encouraged by the progress we have made. We completed a strategic review of the business earlier this year and are confident that the initiatives we are undertaking will strengthen our position in our key business segments in the coming years. Going into the next fiscal, we expect higher revenue growth and improvement in operating margins."