The Hindu Business Line : Firstsource net rises 3% in Q2

Mumbai, Oct.29 Pure play back-office firm Firstsource Solutions has reported a 3.2 per cent rise in consolidated net profit for the second quarter ended September 30, 2009, to Rs 29.1 crore from Rs 28.2 crore reported a year ago.

Revenues for the quarter were up 15 per cent to Rs 488.7 crore (Rs 425 crore).

“The general consensus is that the bottom has been reached in terms of the demand environment and that there should be some positive momentum from here on,” Mr Ananda Mukerji, Managing Director and Chief Executive Officer, Firstsource, told newspersons during a conference call here on Wednesday.

Four of the company’s top five customers gave incremental business to the Mumbai-headquartered firm. Telecom was the main growth driver for the company during the quarter due to ramp-ups from the UK region, said Mr Mukerji. As a percentage of overall revenues, revenues from onshore operations increased to 58.4 per cent from 57.8 per cent in the same quarter a year ago.

More Stories on : Financial Performance | Outsourcing

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
ITI calls bids for three units

BSNL to open bids today for Rs 900-cr IT project for North

TN gets Rs 12 cr for mobile-governance project

Slowdown in demand pulls HCL Info Q1 net down 11%

Sasken logs 58% rise in net profit on cost-cutting

Firstsource net rises 3% in Q2

Special court for Satyam trial

Citi expands relationship with Wipro to BPO work

Starlite ties up with Spanish co to provide solutions to SMEs

Life term for cyber-terror crimes

100 cos, 800 delegates to take part in Bangalore IT.biz from Nov 11

iGate sees clients increasing IT budgets in 2010

SAP India interim chief

Mahindra Satyam V-P (strategy)