For the full financial year, Firstsource has maintained its constant currency revenue growth guidance to be between 10% to 13%, while EBIT margins are likely to be between 12.25% to 12.75%.
During the June quarter, Firstsource reported a 4.5% decline in its revenue to ₹2,725 crore from ₹2,853 crore in the previous quarter.
Earnings Before Interest and Tax (EBIT) during the quarter stood at ₹337 crore, up 7.2% on a sequential basis, while EBIT margins remained steady at 12.3% from 12.2% in the previous quarter.
Net profit for the period fell 19% to ₹166 crore from ₹205 crore earlier.
In US Dollar terms, Firstsource reported revenue of $288 million, implying a constant currency growth of 2.2% on a sequential basis.
During the quarter, Firstsource bagged a large transformative deal with a leading UK-based benefits and pensions administration provider for end-to-end back-office transformation and resource optimization.
The company also won a large deal from a leading academic medical center in the US, for insurance follow-up, denials management, and complex claims resolution. This is a new logo for the company, as per its investor presentation.
Overall deal wins have not been disclosed.
At the end of the June quarter, the company had a headcount of 36,875, with a sequential headcount addition of 670 and a year-on-year headcount addition of 2,380. Employee attrition on a trailing 12-month basis stood at 33.1%, which is for employees in employment for over 180 days.
Shares of Firstsource Solutions are trading 12% lower after the results announcement at ₹300. The stock has risen 28% over the last one month.
