Mumbai, Aug 6 (SocialNews.XYZ) Shares of Firstsource Solutions fell over 10 per cent on Thursday after the RP-Sanjiv Goenka Group company reported a sharp decline in profitability for the first quarter.
The business process management and technology services firm posted a 19 per cent sequential drop in net profit, while operating performance weakened significantly during the quarter.
The company’s net profit declined to Rs 166 crore for the first quarter (Q1 FY27), with profit falling from Rs 205 crore in the previous quarter (Q4 FY26), according to its stock exchange filing.
The company's operating performance also came under pressure during the quarter. Earnings before interest and tax (EBIT) declined 45.2 per cent sequentially to Rs 337 crore, compared with Rs 615.2 crore in the preceding quarter.
Consequently, EBIT margin contracted sharply to 12.4 per cent from 24 per cent, as per its regulatory filing.
Revenue from operations stood at Rs 2,725 crore during the quarter. The company had reported revenue of Rs 2,853 crore in the previous quarter.
Following the earnings announcement, investors reacted negatively, sending the stock lower in trade. Shares of Firstsource Solutions were trading at Rs 303.65, down Rs 35.80 or 10.53 per cent.
The stock has remained under pressure over recent trading sessions. Shares have declined 3.46 per cent in the last five days and have fallen more than 22 per cent over the past one month.
Over the last six months, the stock is down 4.8 per cent, while it has lost nearly 9 per cent on a year-to-date basis.
Firstsource Solutions is a global business process management (BPM) and technology services provider and is part of the RP-Sanjiv Goenka Group.
Headquartered in Mumbai, the company offers AI-led customer experience solutions, healthcare services, banking and financial process management, and back-office automation services.
It operates across key markets including India, the US, the UK, the Philippines, Mexico and Australia.
Source: IANS
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