Firstsource Q4 net up 6.9% to Rs35.61 cr

by Bloomberg UTV News Desk    Apr 30, 2010

Firstsource today reported an 6.9 percent increase in net profit at Rs 35.61 crore for the fourth quarter ended March 31, 2010.

First Source Q4FY10 (QoQ)

Net Sales up 3.5 percent at Rs500.79 cr vs. Rs483.98 cr
Net Profit up 6.9 percent at Rs35.61 cr vs. Rs33.31 cr
Operating Profit up 3 percent at Rs70.5 cr vs. Rs68.2 cr
Operating Profit margin at 13.9 percent at 13.9 percent

Factors at play

Top 5 customers contributed 31.5 percent to revenues vs. 34.8 percent
Added one delivery center in Bhopal
Shut one center in Bangalore
Reduction in headcount by 9 percent sequentially
Reduction in headcount due to downsizing of Asia Biz Unit staff
8 of top 10 clients have grown business during the year
As of March 31, 2010 derives 60 percent revenues from US, 27 percent from UK