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Firstsource Solutions Gains 8%; BSE IT Index Up 1.2%
Fri, 16 Aug 9:23

Firstsource Solutions Gains 8%; BSE IT Index Up 1.2%Image source: phive2015/www.istockphoto.com

Firstsource Solutions share price has zoomed 8% and is presently trading at Rs 305.8.

Meanwhile, the BSE IT index is at 40,953.9 (up 1.2%).

Among the top gainers in the BSE IT index today are ZENSAR TECHNOLOGIES (up 3.2%) and PERSISTENT SYSTEMS (up 2.8%).

Over the last one year, Firstsource Solutions has moved up from Rs 146.7 to Rs 305.8, registering a gain of Rs 159.1 (up 108.4%).

On the other hand, the BSE IT index has moved up from 31,218.6 to 40,953.9, registering a gain of 31.2% during the last 12 months.

The top gainers among the BSE IT index stocks during this same period were Oracle Financial Services (up 171.5%), INFIBEAM AVENUES (up 122.2%) and Firstsource Solutions (up 108.4%).

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What About the Benchmark Indices?

The BSE Sensex is at 79,719.2 (up 0.8%).

The top gainers among the BSE Sensex today are M&M (up 2.4%) and Tech Mahindra (up 2.1%). The most traded stocks in the BSE Sensex are Tata Steel and Nestle.

In the meantime, NSE Nifty is at 24,342.4 (up 0.8%). M&M and Hindalco are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 65,401.9 to 79,719.2, registering a gain of 14,317.3 points (up 21.9%).

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 41.2.


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