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