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Firstsource records net profit down at 15.6 percent

By SiliconIndia   |   Thursday, July 29, 2010
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Mumbai: Firstsource solutions has recorded a net profit of Rs. 32 crore for the quarter ended on June 30. The profit was 15.6 percent down from Rs. 38 Crore recorded last year. Firstsource faced attrition as the major concern during the quarter with offshore attrition of 55.4 percent against 43.5 percent in the previous sequential quarter. "While the business environment across our verticals continues to improve, opposing pressures are at play with an element of uncertainty in the global outlook," said Mathew Vallance, Managing Director and CEO. Attrition was the highest at 9.49 percent for the company's domestic practice. This led to the fall in processing volumes at the local unit . "Moreover, there has been lot of attrition in our smaller centres in the quarter gone by," said Aashu Calapa, President HR and Country Manager- India, Firstsource.
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