Firstsource hits new high

Firstsource Solutions is doing very well today; from its close of Rs.273.30, it opened marginally higher at Rs.275 and went on to hit a new 52-week high at Rs.309.50. It is currently trading 9% up at Rs.297 levels.

The company posted a good set of earnings and gave an equally stable, if not slightly better revenue guidance. For Q1FY25, the company posted a consolidated revenue at Rs.1791 crore, up 6.5% (QoQ) on constant currency (CC). EBIT was flat at Rs.197 crore and so were the margins at 11% v/s 11.7%. PAT for the quarter came in at Rs.135 crore, up 40 bps.

The company guided, on a CC, a revenue growth of 11.5 to 13.5% as against the earlier guided 10-13% while EBIT was maintained at the same levels of 11-12%.

The company currently employs 29,321 people of which 45% are women employees.

Attrition for the quarter was down at 32% v/s 35.4% (QoQ).