Firstsource Solutions Q4 Review - Guides Industry Leading 15-18% Growth, OPM Gains: Dolat Capital
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Firstsource Solutions Q4 Review - Guides Industry Leading 15-18% Growth, OPM Gains: Dolat Capital

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 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).

Click on the attachment to read the full report:

Dolat Capital FirstSource Q4FY21 Result Update.pdf

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