RP Sanjiv Goenka Group

Firstsource Solutions Reports Third Quarter Fiscal 2020 Results

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Revenues at Rs. 10,535 million, 6.9% Y-o-Y and 8.3% in constant currency

Kolkata, February 4, 2020: Firstsource Solutions Limited (NSE: FSL, BSE:532809), a global provider of customised Business Process Management (BPM) services and a RP-Sanjiv Goenka Group company, reported its consolidated financial results for the quarter ended December 31, 2019 according to IndAS.

Financial Highlights for Quarter Ended December 31st 2019:

  • Revenues at Rs. 10,535 million, 6.9% Y-o-Y and 8.3% in constant currency; 7.0% Q-o-Q and 4.7% in constant currency
  • Operating Margin (OM) at Rs. 1,182 million or 11.2% of revenues
  • Profit After Taxes (PAT) at Rs. 895 million or 8.5% of revenues
  • Diluted Earnings Per Share (EPS) of Rs 1.29
  • Added 481 employees in the quarter taking total employee strength to 20,482

Commenting on the quarter, Sanjiv Goenka, Chairman, RP-Sanjiv Goenka Group and Firstsource Solutions, said, “We saw strong growth across sectors underpinned by our continued investment in digital and growth capacity. As our clients evolve their businesses with increasingly sophisticated technology, Digital solutions are the way forward for us.”

Key Developments:

  • Strong growth across our businesses exemplified by 3 new logo wins in Mortgage and 2 in Healthcare
  • Solid pipeline of opportunities as we head towards end of the year
  • We continue to pivot strongly on Digital:
    • We launched our Healthcare Digital Receivables Management solution with an anchor client. This solution offers frictionless patient financial engagement and increases propensity to collect by 35%;
    • Automated Auditor built on our proprietary platform, Sympraxis won the Healthcare Payer business, top recognition at a giant client’s Global Innovation Challenge
  • Our efforts to reimagine our CM offerings with Digital is being recognised by industry and clients. During the quarter, we
    • Won two major awards at the Global Sourcing Association (GSA) UK Awards 2019 for ‘Technology-Enabled Project of the Year’ with NOW TV and ‘Customer Experience Provider of the Year’ with giffgaff
  • Won the ‘Outsourced Contact Centre of the Year’ award with one of our banking clients at the Contact Centre Network Northern Ireland (CCNNI) Awards, making this our second win in a row
  • Won the Gold award for ‘Best Use of Customer Insight’ at the UK Customer Experience Awards (CXA ’19), in collaboration with NOW TV
  • Firstsource Academy in the UK geography was recognised at the CCA Excellence Awards 2019 in the ‘Excellence in Skills, Learning and Development’ category

About Firstsource

Firstsource Solutions Limited, a RP-Sanjiv Goenka Group company (NSE: FSL, BSE: 532809, Reuters: FISO.BO, Bloomberg: FSOL@IN), is a leading global provider of customised Business Process Management (BPM) services to the Healthcare, Telecom & Media and Banking & Financial Services industries. The company’s clients include Fortune 500 and FTSE 100 companies. Firstsource has a ‘Right-shore’ delivery model with operations in the US, the UK, India and the Philippines. (www.firstsource.com)




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