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Firstsource Solutions Plunges 6%; BSE IT Index Down 1.1%
Tue, 29 Oct 11:13

Firstsource Solutions Plunges 6%; BSE IT Index Down 1.1%Image source: peterschreiber.media/www.istockphoto.com

Firstsource Solutions share price has plunged 6% and is presently trading at Rs 350.5.

Meanwhile, the BSE IT index is at 41,533.4 (down 1.1%).

Among the top losers in the BSE IT index today are KPIT TECHNOLOGIES (down 3.9%) and INTELLECT DESIGN (down 2.8%).

Eclerx Services (up 2.8%) and ZENSAR TECHNOLOGIES (up 2.1%) are among the top gainers today.

Over the last one year, Firstsource Solutions has moved up from Rs 156.9 to Rs 350.5, registering a gain of Rs 193.6 (up 123.4%).

On the other hand, the BSE IT index has moved up from 30,902.5 to 41,533.4, registering a gain of 34.4% 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 123.4%) and PERSISTENT SYSTEMS (up 89.8%).

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

What About the Benchmark Indices?

The BSE Sensex is at 79,584.4 (down 0.5%).

The top losers among the BSE Sensex today are Tata Motors (down 4.4%) and Indusind Bank (down 2.5%). The most traded stocks in the BSE Sensex are Tata Motors and Tata Steel.

In the meantime, NSE Nifty is at 24,187.9 (down 0.6%). Tata Motors and IOC are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 64,049.1 to 79,584.4, registering a gain of 15,535.3 points (up 24.3%).

Firstsource Solutions Financial Update...

Firstsource Solutions net profit grew 9.2% YoY to Rs 1,382 million for the quarter ended September 2024, compared to a profit of Rs 1,265 million a year ago. Net sales rose 25.0% to Rs 19,254 million during the period as against Rs 15,400 million in July-September 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 46.2.


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