FirstSource Solutions spurted 5.69% to Rs 42.70 after well-known investor Rakesh Jhunjhunwala increased stake in the company to 2.88% during Q1 June 2020.
In Q1 June 2020, Jhunjhunwala bought 57 lakh equity shares, or 0.82% stake, in FirstSource Solutions. Post purchase, Jhunjhunwala's shareholding in Firstsource Solutions increased to 2.88% from 2.06% held earlier.
Firstsource Solutions' consolidated net profit fell 6.8% to Rs 91.58 crore on a 10.7% increase in net sales to Rs 1,067.26 crore in Q4 March 2020 over Q4 March 2019.
Firstsource Solutions is a provider of a range of business process management services across the customer life cycle delivered through transaction processing. The firm's segments include banking, financial services and insurance and non-banking, financial services and insurance. Its geographic reach include USA and Canada, UK, India and overseas.
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