Review

FIRSTSOURCE SOLUTIONS 

Ticker : 532809
FV: Rs 10 
52-Week H/L : Rs 79.75/20.65 

We had previously recommended Firstsource Solutions in vol. 37, no. 03, dated November 09, 2020, when the scrip was trading at Rs 72.65. It was recommended based on its good quarterly results. Firstsource Solutions provides transformational solutions & services to customers across healthcare, banking & financial services, communications etc. On a consolidated quarterly front, its net sales increased by 21.29 per cent in Q2FY21 to Rs 1,178.33 crore from Rs 971.47 crore in Q2FY20. The company reported an operating profit of Rs 189.72 crore in Q2FY21, up by 34.64 per cent from Rs 140.91 crore reported in Q2FY20. The net profit increased by 56.23 per cent from Rs 67.39 crore in Q2FY20 to Rs 105.28 crore in Q2FY21. The company is on a fast track mode towards digital transformation and has also reported good financial performance on the back of the company’s positive growth. Hence, we recommended our investor readers to BOOK PROFIT on November 24, 2020, at Rs 79.40 with a gain of 9.29 per cent.