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Firstsource Solutions Gains 8%; BSE IT Index Up 0.1%
Mon, 8 Jul 10:0

Firstsource Solutions Gains 8%; BSE IT Index Up 0.1%Image source: Sefa Ozel/www.istockphoto.com

Firstsource Solutions share price has zoomed 8% and is presently trading at Rs 254.0.

Meanwhile, the BSE IT index is at 38,507.3 (up 0.1%).

Among the top gainers in the BSE IT index today are Coforge (up 0.8%) and TANLA SOLUTIONS (up 0.5%).

Mastek (down 1.2%) and PERSISTENT SYSTEMS (down 1.1%) are among the top losers today.

Over the last one year, Firstsource Solutions has moved up from Rs 129.3 to Rs 254.0, registering a gain of Rs 124.7 (up 96.5%).

On the other hand, the BSE IT index has moved up from 29,996.1 to 38,507.3, registering a gain of 28.4% during the last 12 months.

The top gainers among the BSE IT index stocks during this same period were Oracle Financial Services (up 172.4%), Birlasoft (up 102.0%) and Firstsource Solutions (up 96.5%).

Dear Reader: If You Invest in Midcap Stocks, this is for You

What About the Benchmark Indices?

The BSE Sensex is at 79,855.2 (down 0.2%).

The top losers among the BSE Sensex today are Titan (down 4.1%) and Asian Paints (down 1.2%). The most traded stocks in the BSE Sensex are Tata Steel and Tata Motors.

In the meantime, NSE Nifty is at 24,276.6 (down 0.2%). Titan and Divis Laboratories are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 65,479.1 to 79,855.2, registering a gain of 14,376.1 points (up 22.0%).

Firstsource Solutions Financial Update...

Firstsource Solutions net profit fell 5.5% YoY to Rs 1,335 million for the quarter ended March 2024, compared to a profit of Rs 1,413 million a year ago. Net sales rose 7.3% to Rs 16,705 million during the period as against Rs 15,568 million in January-March 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 34.8.


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