BQ Prime's special research section collates quality and in-depth equity and economy research reports from across India's top brokerages, asset managers and research agencies. These reports offer BQ Prime's subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Dolat Capital Report
Firstsource Solutions Ltd. reported growth of 0.2% QoQ in constant currency terms (our estimate: 2.0%) due to 8.3% QoQ decline in banking, financial services business as result of deteriorating, and weaker than expected macro environment of high interest rates and inflation, adversely affecting collections and refinancing volumes.
FY23 guidance was downgraded further to -2% -0% YoY growth in CC terms from 2-4% CC in Q1, due to worsening macro environment.
On an organic basis and excluding acquisition, guidance is 12-14% CC growth. Operating profit margin rose marginally by 48 bps QoQ at 8.4% (our estimate: 9.3%), due to weak revenues.
For FY23, Firstsource Solutions' management has guided OPM margins in range of 9-9.5% downgrading from 10%-10.5% as expressed in Q1 FY23.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.