Firstsource Solutions Q4 Review - Guides Industry Leading 15-18% Growth, OPM Gains: Dolat Capital
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Dolat Capital Report
Firstsource Solutions Ltd. reported revenue growth of 7.0% in constant currency terms (our estimate: 3.0%) led by continued traction in banking financial services and insurance vertical (up 8.7% QoQ in dollar terms) and top client (CMT) growth of 8.2% QoQ in dollar terms.
Operating profit margin improved 72 basis points QoQ at 12.4% (our estimate: 11.4%) led by strong operating leverage which was part negated by strong hiring (added ~4000 resources in H2).
The company guided for 15%-18% growth in revenues in constant currency for FY22 and operating profit margin band of 11.8%- 12.4%; citing robust demand environment across existing and new client relationships across verticals (excluding-refinancing).
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