Firstsource announce financial results for FY15
Firstsource Solutions, a global provider of customised Business Process Management (BPM) services and a RP-Sanjiv Goenka Group company, reported its consolidated financial results for year end March 2015 according to Indian GAAP.
The company, which is one of Northern Ireland’s largest private sector employers, operates across three sites in Belfast and Derry/Londonderry and employs over 2,000 people.
Annual highlights include include a PAT growth (profit after tax growth) of $38.3 million, which is an increase of 21.4% compared to the previous year.
Commenting on the performance, Sanjiv Goenka, Chairman, RP-Sanjiv Goenka Group and Firstsource Solutions Limited said, “In FY15 our focus was on consolidating the bottom line which we have been able to successfully achieve. Going forward the focus will be on profitable growth. Additionally, we added significant brands to our portfolio across healthcare, media and telecom verticals. Our productized services approach has also witnessed strong client interest and industry recognition which we expect to continue through FY16.”
Financial Highlights for Year ended March 2015:
• Revenues at $496.6 million for the year ended March 2015, a de-growth of 2.3% over corresponding period of the previous year.
• Operating EBIT of $50.5 million for the year ended March 2015, up 7.7% over corresponding period of the previous year.
• Profit after tax $38.3 million for the year ended March 2015, up 21.4% over corresponding period of the previous year.
• EPS for the year is $0.06 (basic) and $0.05 (diluted).
• Debt repayment: Firstsource Group USA, wholly owned subsidiary of Firstsource Solutions successfully made the principal repayment of USD 45 million during the year.
• Employee strength at 25,285 as of March 31, 2015. Reduction of 2,381 employees during the year
• As of March 31, 2015, Firstsource derived 49% revenues from the US, 36% from UK and 15% from Rest of World, including India.
• As of March 31, 2015, Firstsource derived 43% revenues from Telecom & Media, 36% from Healthcare and 21% from BFSI.
• As of March 31, 2015, Firstsource has 47 centers, compared to 46 as on March 31, 2014.
o Added 1 delivery center in US