Firstsource Net Dips 40%
30th April 2008 @ 13:00
City-based BPO firm Firstsource Solutions has recorded a 40 per cent dip in net profit for the fourth quarter ended March 2008 to Rs 21 crore against Rs 34.9 crore recorded in the quarter a year ago.
Due to a loss on foreign currency loan and an exchange rate related ‘mark-to-market’ loss on the foreign currency convertible bonds (FCCB) that Firstsource had raised in November last year, the company took a hit of about Rs 19.5 crore.Net revenues were up by 35.4 per cent to Rs 375.6 crore (Rs 277.3 crore)
For the year ended March 2008, it reported a 35.3-per cent rise in net profit to Rs 131.5 crore from Rs 97.25 crore in the same period a year ago.
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