Firstsource Solutions has reported revenue of INR4.89 billion for the second quarter of 2009, an increase of 15% compared to INR4.25 billion for the same period last year. Revenue up 0.9% sequentially. For the first half, revenue was up 16.8% to INR9.7 billion, compared to same period last year.
For the quarter ended September 30, 2009, operating EBIT was INR488m, an increase of 12.8% compared to INR433m for the second quarter of 2008. EBIT increased 4% on sequential basis. Operating EBIT was INR958m for the first half of 2009, an increase of 17.5% compared to the same period last year.
The company posted PAT of INR291m, an increase of 2.8% compared to INR283m for the same period last year. Profit after tax decreased by 23.4% on a sequential basis. For the first half of 2009, profit after tax was INR671m compared to loss of INR218m for the same period prior year.
Employee strength for the quarter increased to 26,432, compared to 23,355 for the same period a year ago.
Ananda Mukerji, MD and CEO of Firstsource, said: “This has been a strong quarter in which we’ve recorded a 15% year on year revenue growth and further improvement in margins from the previous quarter. While the business environment continues to be generally subdued we are seeing signs of increase in demand in certain segments of our business. Going forward we are cautiously optimistic that there will be a more broad based recovery.”
