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Firstsource Solutions Gains 5%; BSE IT Index Up 0.7%
Mon, 2 Sep 13:16

Firstsource Solutions Gains 5%; BSE IT Index Up 0.7%Image source: phive2015/www.istockphoto.com

Firstsource Solutions share price has zoomed 5% and is presently trading at Rs 317.1.

Meanwhile, the BSE IT index is at 43,779.3 (up 0.7%).

Among the top gainers in the BSE IT index today are HCl Tech. (up 3.2%) and ZENSAR TECHNOLOGIES (up 2.3%).

Tata Elxsi (down 2.4%) and KPIT TECHNOLOGIES (down 2.1%) are among the top losers today.

Over the last one year, Firstsource Solutions has moved up from Rs 161.4 to Rs 317.1, registering a gain of Rs 155.8 (up 96.5%).

On the other hand, the BSE IT index has moved up from 31,246.5 to 43,779.3, registering a gain of 40.1% during the last 12 months.

The top gainers among the BSE IT index stocks during this same period were Oracle Financial Services (up 173.3%), INFIBEAM AVENUES (up 106.0%) and PERSISTENT SYSTEMS (up 105.5%).

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What About the Benchmark Indices?

The BSE Sensex is at 82,511.2 (up 0.2%).

The top gainers among the BSE Sensex today are Bajaj Finserv (up 3.4%) and HCl Tech. (up 3.2%). The most traded stocks in the BSE Sensex are Tata Steel and ITC.

In the meantime, NSE Nifty is at 25,255.7 (up 0.1%). Bajaj Finserv and HCl Tech. are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 65,075.8 to 82,511.2, registering a gain of 17,435.3 points (up 26.8%).

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 42.7.


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