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Firstsource Solutions Gains 6%; BSE IT Index Up 2.0%
Wed, 23 Oct 10:41

Firstsource Solutions Gains 6%; BSE IT Index Up 2.0%Image source: hudiemm/www.istockphoto.com

Firstsource Solutions share price has zoomed 6% and is presently trading at Rs 332.9.

Meanwhile, the BSE IT index is at 42,196.9 (up 2.0%).

Among the top gainers in the BSE IT index today are PERSISTENT SYSTEMS (up 11.5%) and Coforge (up 11.4%).

TANLA SOLUTIONS (down 1.9%) and INDIAMART INTERMESH (down 1.3%) are among the top losers today.

Over the last one year, Firstsource Solutions has moved up from Rs 159.7 to Rs 332.9, registering a gain of Rs 173.3 (up 108.5%).

On the other hand, the BSE IT index has moved up from 31,255.0 to 42,196.9, registering a gain of 35.0% during the last 12 months.

The top gainers among the BSE IT index stocks during this same period were Oracle Financial Services (up 185.2%), Firstsource Solutions (up 108.5%) and PERSISTENT SYSTEMS (up 97.8%).

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What About the Benchmark Indices?

The BSE Sensex is at 80,363.4 (up 0.2%).

The top gainers among the BSE Sensex today are Bajaj Finance (up 5.5%) and Bajaj Finserv (up 1.8%). The most traded stocks in the BSE Sensex are Tata Steel and Tata Motors.

In the meantime, NSE Nifty is at 24,512.3 (up 0.2%). Bajaj Finance and Bajaj Auto are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 64,571.9 to 80,363.4, registering a gain of 15,791.5 points (up 24.5%).

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 44.8.


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