India's Firstsource Solutions falls on Q4 profit slide

Firstsource Solutions

03/05/2024 09:40

** Shares of Firstsource Solutions  FISO.NS  fall as much as
2.7% after third straight quarterly profit fall; last down 1.8%
    ** Business process management services provider posts 5.5%
decline in Q4 net profit to 1.34 bln rupees ($16.1 mln)
    ** Co approves execution of share purchase agreement of
Quintessence Business Solutions & Services for 3.28 bln rupees
    ** Stock set to fall for a third straight session
    ** Trading vol is 1.5x the 30-day daily avg
    ** Avg rating of nine analysts is "buy"; median PT 225
rupees, ~9% higher than current price - LSEG data
    ** FISO up ~11.5% YTD after rising 80.7% in 2023 





($1 = 83.3981 Indian rupees)

 (Reporting by Anuran Sadhu in Bengaluru)
 ((Anuran.Sadhu@thomsonreuters.com ;))