BPO services provider Firstsource Solutions today reported a growth of 7.30% in consolidated net profit to Rs 38 crore for the fourth quarter ended March 31, 2011.
The company registered a net profit of Rs 35 crore in the same period last year, Firstsource said in a statement.
"Our Q4 performance represented our fastest revenue growth and highest operating profit margins in the past eight quarters. Going into the next fiscal, we expect higher revenue growth and improvement in operating margins," Firstsource MD and CEO Matthew Vallance said.
Revenues of the company rose to Rs 546.4 crore during the January-March quarter from Rs 506.7 crore in the year-ago period.
During the year, the company made a net addition of 1,553 employees to take its total employee strength to 26,413 as of March 31, 2011. The company hired 848 employees in India and made 705 additions outside India.
For the full year ended March 31, 2011, the company has posted a net profit of Rs 138.5 crore, up 1.83% over the same period last fiscal.
As of March 31, 2011, Firstsource derived 57% of its revenues from the US, 31% from the UK and 12% from the APAC region, including India.
The company at the end of the fiscal has a cash and bank balance of Rs 324.6 crore.
"Our cash generation is at an all-time high, which has strengthened our financial standing. Our capacity utilisation will be optimised in the coming year and that will yield better margins. We continue to focus on improving operational efficiencies that will drive profitability," Firstsource Global Chief Financial Officer Carl Saldanha said.
As of March 31, 2011, Firstsource derived 37% of its revenue from telecom and media business, 36% from healthcare, 26% from banking financial services and insurance and 1% from others.
Shares of Firstsource were trading at Rs 19.65 on the BSE, up 1.55% from their previous close.
