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Firstsource Solutions Gains 4%; BSE IT Index Up 1.0%
Tue, 2 Jul 13:18

Firstsource Solutions Gains 4%; BSE IT Index Up 1.0%Image source: StarLineArts/www.istockphoto.com

Firstsource Solutions share price has zoomed 4% and is presently trading at Rs 221.6.

Meanwhile, the BSE IT index is at 37,990.4 (up 1.0%).

Among the top gainers in the BSE IT index today are Coforge (up 2.2%) and Wipro (up 2.2%).

Mastek (down 1.5%) and KPIT TECHNOLOGIES (down 1.2%) are among the top losers today.

Over the last one year, Firstsource Solutions has moved up from Rs 130.4 to Rs 221.6, registering a gain of Rs 91.2 (up 69.9%).

On the other hand, the BSE IT index has moved up from 29,192.0 to 37,990.4, registering a gain of 30.1% during the last 12 months.

The top gainers among the BSE IT index stocks during this same period were Oracle Financial Services (up 163.4%), Birlasoft (up 102.4%) and ZENSAR TECHNOLOGIES (up 96.9%).

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What About the Benchmark Indices?

The BSE Sensex is at 79,379.5 (down 0.1%).

The top losers among the BSE Sensex today are Kotak Bank (down 3.7%) and Indusind Bank (down 2.3%). The most traded stocks in the BSE Sensex are Tata Steel and SBI.

In the meantime, NSE Nifty is at 24,104.5 (down 0.2%). Kotak Bank and Shriram Transport are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 63,915.4 to 79,379.5, registering a gain of 15,464.1 points (up 24.2%).

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 30.3.


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