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Firstsource Solutions Plunges 8%; BSE IT Index Down 4.5%
Mon, 5 Aug 11:28

Firstsource Solutions Plunges 8%; BSE IT Index Down 4.5%Image source: phive2015/www.istockphoto.com

Firstsource Solutions share price has plunged 8% and is presently trading at Rs 274.3.

Meanwhile, the BSE IT index is at 38,787.9 (down 4.5%).

Among the top losers in the BSE IT index today are Birlasoft (down 8.2%) and Oracle Financial Services (down 6.9%).

Over the last one year, Firstsource Solutions has moved up from Rs 147.1 to Rs 274.3, registering a gain of Rs 127.2 (up 86.5%).

On the other hand, the BSE IT index has moved up from 30,586.1 to 38,787.9, registering a gain of 26.8% during the last 12 months.

The top gainers among the BSE IT index stocks during this same period were Oracle Financial Services (up 149.9%), INFIBEAM AVENUES (up 110.7%) and Firstsource Solutions (up 86.5%).

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What About the Benchmark Indices?

The BSE Sensex is at 78,477.9 (down 3.1%).

The top losers among the BSE Sensex today are Tata Motors (down 6.6%) and Tata Steel (down 5.4%). The most traded stocks in the BSE Sensex are Tata Steel and Tata Motors.

In the meantime, NSE Nifty is at 23,914.3 (down 3.3%). Tata Motors and ONGC are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 66,459.3 to 78,477.9, registering a gain of 12,018.6 points (up 18.1%).

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 36.9.


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