Firstsource Solutions Reports Third Quarter Fiscal 2022 Results

Revenues of Rs. 14,638 million; Y-o-Y growth of 7.2%
Operating Margin of Rs. 1,762 million; 12.0% of Revenues
PAT of Rs. 1,355 million; 9.3% of Revenues

Mumbai, February 4, 2022: 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 December 31, 2021, according to IndAS.

Financial Highlights for Quarter Ended December 31^st, 2021:

• Revenues at Rs. 14,638 million (US$ 195.4 million), 7.2% Y-o-Y and 4.9% in CC
• Operating Margin (OM) at Rs. 1,762 million or 12.0% of revenues
• Profit After Tax (PAT) at Rs. 1,355 million or 9.3% of revenues
• Diluted Earnings Per Share (EPS) of Rs. 1.92
• 27,398 employees as of December 31^st, 2021
• Board has recommended an interim dividend of Rs. 3.50 per share

Dr. Sanjiv Goenka, Chairman, RPSG Group and Firstsource Solutions commented, “Our third quarter results are in line with our expectations. We continue to invest in strengthening our capabilities through acquisitions like American Recovery Services, Inc. (ARSI). Our focus on digital has yielded positive results – we onboarded several key clients as well as launched distinct service offerings. I am encouraged by our performance and confident of our ability to continue delivering value to our stakeholders.”

Key Business Highlights:

We witnessed strong growth momentum during the quarter, adding 9 new clients:

• BFS business ​added five new clients to its roster, expanding further into servicing and quality control in the Mortgage business and BNPL in the Collections business.
• Completed the acquisition of American Recovery Services, Inc.  – augmenting our capabilities with legal stage collections and enhancing Firstsource’s leadership in consumer debt management services.
• Communications, Media and Technology (CMT) secured three new clients and expanded into newer capabilities within the broader fintech segments.
• Healthcare business witnessed strong traction in telehealth capabilities, securing one new client during the quarter.
• Established a new center in Mexico, further broadening our geographic footprint.
• Recognized by Bloomberg Gender Equality Index (GEI) for gender related practices, policies and ESG data reporting.

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. (www.firstsource.com)

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