Revenues of Rs. 14,848 million; Y-o-Y growth of 39.8%
Operating Margin of Rs. 1,800 million; 12.1% of Revenues
PAT of Rs. 1,345 million; 9.1% of Revenues
Mumbai, July 29, 2021: Firstsource Solutions Limited (NSE: FSL, BSE:532809), a global provider of Business Process Management (BPM) services and an RP-Sanjiv Goenka Group company, reported its consolidated financial results for the quarter ended June 30, 2021 according to IndAS.
Financial Highlights for Quarter Ended June 30th, 2021:
- Revenues at Rs. 14,848 million (US$ 201.3 million), 39.8% Y-o-Y and 38.5% in CC
- Operating Margin (OM) at Rs. 1,800 million or 12.1% of revenues
- Profit After Tax (PAT) at Rs. 1,345 million or 9.1% of revenues
- Diluted Earnings Per Share (EPS) of Rs. 1.91
- 27,916 employees as of June 30th, 2021
Dr. Sanjiv Goenka, Chairman, RPSG Group and Firstsource Solutions, commented, “I am pleased to share that we delivered yet another solid quarter driven by sustained momentum across our industry segments. Our systematic focus and investment in sales, account management, digital solutions and skills is seeing encouraging results. We continue to drive revenue expansion with our existing clients while onboarding new clients across the business. The well-being of our people and their families remains our top priority as we navigate the impact of pandemic.”
Key Business Highlights
Anchored by our Digital First, Digital Now strategy, we sustained a strong growth trajectory across businesses, onboarding 17 new clients during the quarter.
- Healthcare business added five new clients, including strong momentum in our Health Plans business. The Provider business teamed up with Norton Healthcare and LDG Development to expand access to primary care, preventative care, and Medicaid for the underserved in the Louisville area. This strategic partnership highlights Firstsource’s commitment to driving purpose-led growth by meaningfully impacting local communities.
- The BFS business witnessed steady growth – our Mortgage business onboarded four new clients. The business was also nominated for ‘Mortgage Professional America’s Top Mortgage Employers 2021’. We see strong pipeline activity in the Banking & Financial Services (BFS) vertical in the European market. We continue to leverage our market leading digital solutions for Receivables Management – this business signed five new clients, including two Fintechs and two in the fast-growing Buy Now Pay Later (BNPL) sector.
- Comms, Media and Tech business grew steadily and notched-up solid wins, especially in Europe.
- NelsonHall – a global analyst and advisory firm positioned Firstsource as a ‘Leader’ in the firm’s Intelligent Automation in Banking NEAT 2021 report.
Firstsource Solutions Limited, an RP-Sanjiv Goenka Group company (NSE: FSL, BSE: 532809, Reuters: FISO.BO, Bloomberg: FSOL@IN), is a leading provider of transformational solutions and services spanning the customer lifecycle across Healthcare, Banking and Financial Services, Communications, Media and Technology and other industries. The Company’s ‘Digital First, Digital Now’ approach helps organizations reinvent operations and reimagine business models, enabling them to deliver moments that matter and build competitive advantage. With an established presence in the US, the UK, India and the Philippines, Firstsource acts as a trusted growth partner for over 100 leading global brands, including several Fortune 500 and FTSE 100 companies.