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Firstsource Solutions Gains 4%; BSE IT Index Down 0.7%
Tue, 24 Sep 9:46

Firstsource Solutions Gains 4%; BSE IT Index Down 0.7%Image source: asbe/www.istockphoto.com

Firstsource Solutions share price has zoomed 4% and is presently trading at Rs 326.4.

Meanwhile, the BSE IT index is at 42,283.1 (down 0.7%).

Among the top gainers in the BSE IT index today are Eclerx Services (up 1.3%) and INTELLECT DESIGN (up 0.9%).

KPIT TECHNOLOGIES (down 2.5%) and Infosys (down 1.2%) are among the top losers today.

Over the last one year, Firstsource Solutions has moved up from Rs 163.9 to Rs 326.4, registering a gain of Rs 162.5 (up 99.2%).

On the other hand, the BSE IT index has moved up from 33,052.3 to 42,283.1, registering a gain of 27.9% during the last 12 months.

The top gainers among the BSE IT index stocks during this same period were Oracle Financial Services (up 171.9%), Firstsource Solutions (up 99.2%) and PERSISTENT SYSTEMS (up 84.4%).

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What About the Benchmark Indices?

The BSE Sensex is at 84,905.5 .

The top losers among the BSE Sensex today are Bajaj Finance (down 1.3%) and Infosys (down 1.2%). The most traded stocks in the BSE Sensex are Tata Steel and Tata Motors.

In the meantime, NSE Nifty is at 25,955.6 (up 0.1%). Tata Steel and JSW Steel are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 66,800.8 to 84,905.5, registering a gain of 18,104.7 points (up 27.1%).

Firstsource Solutions Financial Update...

Firstsource Solutions net profit grew 7.4% YoY to Rs 1,352 million for the quarter ended June 2024, compared to a profit of Rs 1,260 million a year ago. Net sales rose 17.1% to Rs 17,911 million during the period as against Rs 15,292 million in April-June 2023.

For the year ended March 2024, Firstsource Solutions reported 0.2% increase in net profit to Rs 5,147 million compared to net profit of Rs 5,137 million during FY23. Revenue of the company grew 5.2% to Rs 63,362 million during FY24.

The current Price to earnings ratio of Firstsource Solutions, based on rolling 12 month earnings, stands at 44.0.


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