Firstsource Solutions Limited is a Mid-Cap company with a market cap of 8,099.03 crore and the company operates as Business Process Outsourcing (BPO) in IT sector. Firstsource is a leader in business process management services and provides solutions for many sectors such as banking and financial services, mortgage lending, healthcare, communications, media and technology. For the financial year 2022-2023, the corporation also declared an interim dividend in addition to its Q3 results.
The company said in a stock exchange filing that its board of directors has “approved an interim dividend for the financial year ending March 31, 2023 @ Rs. 3.50 per share (35%) on the paid-up capital of the company.” In order to receive the said interim dividend The record date for the purpose of determining the eligible members has been fixed as Friday, the 17th February, 2023.”
In Q3FY23, Firstsource Solutions’ net profit reached 157.92 crore as against 135.46 Cr in Q3FY22, representing a YoY gain of 16.58%. The company registered net sales of 1503.31 crore in the quarter ending December 2022 against 1445.64 crore in the quarter ending December 2021, representing an annual growth of 4%. The EPS of Firstsource Solutions was as compared to 2.32 in Q3FY23 1.99 in Q3FY22.
Dr. Sanjiv Goenka, Chairman – RPSG Group and Firstsource Solutions commented, “Firstsource delivered a steady performance amid a challenging quarter. We fast-tracked our digital efforts, continued our focus on cost management and Formalized our commitment to growth. Our first ESG report. With a strong pipeline, an empowered workforce and a diversified portfolio, we are poised to capture new market opportunities over the next few quarters.”
Firstsource Solutions Limited shares closed on NSE on Friday 116.35 each level, up 4.35% from previous close 111.50. The stock recorded a total volume of 8,676,975 shares as compared to the 20-day average volume of 2,341,881 shares. In last 1 year, the stock has fallen 20.23% but on YTD basis, the stock is up 12.58% in 2023 so far. Considering the dividend announcement, the stock is trading at a dividend yield of 3% at the current market price. , The stock touched a 52-week high at 168.70 (02-Feb-2022) and 52-week low at 93.00 (20-Jun-2022). For the quarter ending December 2022 or Q3FY23, the company reported promoter holding at 53.66%, FII holding at 8.41%, DII holding at 14.18%, public holding at 21.38% and others at 2.37%.
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