Firstsource Solutions Rises To Life High After Raising FY25 Revenue Guidance
The company has raised the revenue guidance by 11.5-13.5% for the financial year 2025.
Firstsource Solutions Ltd. rose to a record high on Tuesday after it raised its revenue guidance by 11.5–13.5% for the financial year 2025.
The business process management company's net profit rose 1.3% on the year to Rs 135 crore in the quarter ended June 2024, according to an exchange filing. During the period, revenue grew 6.9% to Rs 1,784 crore.
The company's operating profit rose 4.4% to Rs 190 crore during the April-June quarter, while the margin declined three basis points to 10.6%.
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Shares of Firstsource Solutions rose 4.05% to a record high of Rs 278.00. It was trading 3.17% higher at Rs 275.65 as of 12:44 p.m., compared to 0.41% advance in the NSE Nifty 50 index.
The stock gained 91.07% in last 12 months and 49.31% on year to date basis. Total traded volume so far in the day stood at 1.28 times its 30-day average. The relative strength index was at 76.95, which implied the stock is overbought.
Out of 11 analysts tracking the company, 10 maintain a 'buy' rating and one recommend a 'hold', according to Bloomberg data. The average 12-month consensus price target implies a downside of 12.5%.
