Firstsource Solutions Reports Third Quarter Fiscal 2021 Results

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Revenues of Rs. 13,652 million; Y-o-Y growth of 29.6%

Operating Margin of Rs. 1,590 million; 11.6% of Revenues

PAT of Rs. 1,210 million; 8.9% of Revenues

Mumbai, February 9, 2021: Firstsource Solutions Limited (NSE: FSL, BSE:532809), a global provider of Business Process Management (BPM) services and a RP-Sanjiv Goenka Group company, reported its consolidated financial results for the quarter ended December 31, 2020 according to IndAS.

Financial Highlights for Quarter Ended December 31st, 2020:

  • Revenues at Rs. 13,652 million (US$ 184.8 Million), 29.6% Y-o-Y and 23.8% in CC
  • Operating Margin (OM) at Rs. 1,590 million or 11.6% of revenues
  • Profit After Tax (PAT) at Rs. 1,210 million or 8.9% of revenues
  • Diluted Earnings Per Share (EPS) of Rs. 1.72
  • Added 2,658 employees in the quarter

Dr. Sanjiv Goenka, Chairman, RPSG Group and Firstsource Solutions, commented, “Despite the continued challenges in the post-pandemic environment, we ended Q3 on a high note – the last two quarters were in fact the best ever for the company. We continue to steadily acquire new clients across verticals while our recent acquisition of PatientMatters further consolidates our standing in Healthcare. I commend the Firstsource leadership team on their ingenuity and dedication during this extraordinary time. I’m optimistic about the evolving business landscape and believe that we are well positioned for the future with our Digital First, Digital Now strategy.”

Key Business Highlights

Powered by our Digital First, Digital Now strategy, we continued to accelerate our growth trajectory in Q3, onboarding 18 new clients during the quarter.

  • Mortgage business added nine new clients and two automation advisory deals to its portfolio.
  • Europe business onboarded a prestigious media client.
  • Healthcare Provider business added SaaS based service to its portfolio and further expanded footprint in the US with the acquisition of PatientMatters – a healthcare Revenue Cycle Management (RCM) solutions provider.
  • Health Plans and Healthcare Services (HPHS) business signed long term contracts with two marquee clients in the US.
  • Five new partnerships with industry-leading companies to continue embedding digital capabilities into our solutions and services to help our clients maximize business performance.

About Firstsource:

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.

Contact

Media Contact

Sarika Rath
Sarika.rath@firstsource.com
(+91 98863 78198)

Investors Contact

Ankur Maheshwari
Ankur.maheshwari@firstsource.com
+91(80) 6633 6075

Diwakar Pingle
dpingle@christensenir.com
(+91 22 4215 0210)

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