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Firstsource Solutions Ltd posts strong Financial Results for Q3 FY24

Posted On: 2024-02-08 13:05:25 (Time Zone: IST)


Firstsource Solutions Ltd., a leading player in the IT sector, has recently unveiled its financial results for the quarter ended December 31, 2023. The company has demonstrated robust growth and solid performance, reaffirming its position as a key player in the industry amidst evolving market dynamics.

Financial Highlights:

Quarterly Performance (Q3 FY24):

Sales: Firstsource Solutions Ltd. reported sales of ?1,597 crores for Q3 FY24, marking a notable increase compared to the previous quarter's ?1,540 crores.

EBITDA: Earnings Before Interest, Taxes, Depreciation, and Amortization stood at ?237 crores, reflecting the company's operational efficiency and cost management strategies.

PAT: Profit After Tax reached ?129 crores, indicating Firstsource Solutions Ltd.'s ability to maintain profitability amidst market challenges.

Quarterly Comparison (Q3 FY24 vs. Q2 FY24 and Q3 FY23):

While sales witnessed a slight uptick from Q2 FY24 to Q3 FY24, the company showcased significant growth compared to Q3 FY23, demonstrating its resilience and adaptability in the face of industry fluctuations.

EBITDA and PAT witnessed remarkable growth compared to the previous quarters, reflecting Firstsource Solutions Ltd.'s strong financial performance and prudent financial management.

9-Month Performance (9M FY24 vs. 9M FY23):

Firstsource Solutions Ltd. reported cumulative sales of ?4,666 crores for the nine months ended December 31, 2023, showcasing robust growth compared to the same period last year.

EBITDA for 9M FY24 stood at ?706 crores, reflecting the company's solid operational capabilities and efficiency.

Profit After Tax witnessed substantial growth, indicating Firstsource Solutions Ltd.'s successful execution of strategic initiatives and operational excellence.

Firstsource Solutions Ltd.'s performance in Q3 FY24 reflects its resilience and ability to navigate through market uncertainties within the IT sector. Despite facing challenges such as talent acquisition and changing customer requirements, the company has maintained a strong growth trajectory, driven by its innovative solutions and customer-centric approach.

The IT sector's resilience amidst the pandemic and increasing demand for digital transformation present growth opportunities for Firstsource Solutions Ltd. The company's focus on innovation, technology integration, and operational excellence positions it well to capitalize on emerging market trends and further strengthen its market leadership.

Shares of Firstsource Solutions Limited was last trading in BSE at Rs. 209.95 as compared to the previous close of Rs. 201.40. The total number of shares traded during the day was 286511 in over 3697 trades.

The stock hit an intraday high of Rs. 211.00 and intraday low of 201.70. The net turnover during the day was Rs. 59752653.00.


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