Firstsource Solutions - Margins To Improve Marginally In Coming Years: ICICI Direct
Employees work at a call centre. (Photographer: Dhiraj Singh/Bloomberg)

Firstsource Solutions - Margins To Improve Marginally In Coming Years: ICICI Direct

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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.

ICICI Direct Report

Firstsource Solution Ltd. reported a healthy set of Q3 FY21 numbers.

Dollar revenues increased 15.6% QoQ (up 24.9% YoY) led by healthy growth in top client, 15.9% QoQ growth in banking financial services and 26.1% QoQ growth in communication, media and technology.

In rupee terms, revenues increased 29.6% YoY, 14.9% QoQ. Ebit margins increased 20 basis points QoQ to 11.6%.

Total debt declined from Rs 843.3 crore in FY20 to Rs 505.4 crore in nine months FY21.

The company has guided 16-17% YoY growth (up from earlier guidance of 9-12%) in FY21E revenues in constant currency terms and operating margins in the range of 11.25-11.5%.

Click on the attachment to read the full report:

ICICI Direct Firstsource Company Update.pdf

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