BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Dolat Capital Report
Firstsource Solutions Ltd. reported revenue decline of 4.0% in constant currency terms largely led by softness in banking financial services and insurance vertical (down 9.2% QoQ) and top client (down 7.1% QoQ).
Operating profit margin improved by 42 basis points QoQ at 12.5% on favorable revenue mix (healthcare rev up 6% QoQ).
Firstsource Solutions has cut its revenue growth guidance to 14.5%-15.5% (includes 60- 70 basis points from StoneHill acquisition) from 15% to 18% in CC terms.
The cut is largely due to softness in mortgage biz (slowdown in re-financing volumes) while healthcare outlook is positive.
Operating profit margin band is retained at 11.8%-12.3% as it expects limited impact from supply side in India.
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