Software and Services company Firstsource Solutions announced Q3FY22 results: Revenues at Rs. 14,638 million (USD 195.4 million), 7.2% YoY 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 31st, 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.” Result PDF
Conference Call with Firstsource Solutions (FSL) Management and Analysts on Q2FY22 Performance and Outlook. Listen to the full earnings transcript.
Highlights: Revenues at Rs. 14,286 million (US$ 193.0 million), 20.3% Y0Y and 18.5% in CC Operating Margin (OM) at Rs. 1,791 million or 12.5% of revenues Profit After Tax (PAT) at Rs. 1,350 million or 9.5% of revenues Diluted Earnings Per Share (EPS) of Rs. 1.96 27,835 employees as of September 30th, 2021 Healthcare business witnessed strong growth, onboarding five new clients, including one of the largest digital deals in the history of the Health Plans business. This ushers in a new chapter for HPHS and Firstsource where we will be accelerating the Health Plan business through platform modernization and delivering best in class business processes. The Provider business launched a strategic transition of all its healthcare solutions to the cloud, fast-tracking innovation, access, security, and flexibility for clients. BFS business welcomed five new clients, with Mortgage accounting for four new clients and Europe business adding a wealth management firm to its roster. Communications, Media and Technology (CMT) business continued its steady trajectory, securing three new clients during the quarter. Diversified Industries business signed two new clients – an Ireland-based utility and a US-based utility. Firstsource received the ‘We invest in people – Gold’ accreditation from Investors in People (IIP) for its UK operations for the second consecutive year. Our women leaders from the Mortgage business won coveted industry recognitions – awarded by Mortgage Banker Magazine and HousingWire – for their outstanding leadership and contributions to the industry. Dr. Sanjiv Goenka, Chairman, RPSG Group and Firstsource Solutions commented, “We witnessed steady and consistent growth during the quarter. Expanding and maturing our digital ecosystem to accelerate transformation for our global clients continues to be a key area of focus. To this end, we added several industry-leading technology partners to our ecosystem during the quarter, significantly strengthening our digital capabilities. I’m also excited about our acquisition of The StoneHill Group – a leading US-based mortgage services provider. We welcome StoneHill associates into our Firstsource family.” Result PDF