)
BPO firm Firstsource Solutions Ltd today posted 29.7% increase in net profit at Rs 53.2 crore for the quarter ended June 30, 2014.
This is against a net profit of Rs 41 crore in the same period last year, Firstsource said in a statement.
The company's revenues grew 5.1% to Rs 755.6 crore in the said quarter from Rs 719.1 crore in the April-June 2013 quarter.
Sequentially, net profit was down 9.5% from Rs 58.8 crore in Q4 FY2013-14, while revenue was lower 5.1% from Rs 796.2 crore in the January-March 2014 quarter.
The company signed new deals worth $36 million ACV (annual contract value) across the business verticals with existing and new customers, which includes a significant contract expansion with a leading US telecommunications company.
Firstsource removed 519 people during the quarter under review to take its total headcount to 27,147 as of June 30, 2014.
Its attrition rate at its offshore (India and Philippines) operations stood at 56.6% (from 54.8% in Q4 FY2013-14, while the same for onshore (US and Europe) operations was at 46.4% (38.6% in Q4).
The company had Rs 210 crore cash on its books.
