Firstsource Solutions Spurts On Good During - Nov 24, 2008

The company declared the results during market hours today, 24 November 2008.Meanwhile, the BSE Sensex was up 32.16 points, or 0.36%, to 8947.37.On BSE, 15.22 lakh shares were traded in the counter. The scrip had an average daily volume of 7.88 lakh shares in the past one quarter.The stock hit a high of Rs 14.20 and a low of Rs 12.05 so far during the day. The stock had a 52-week high of Rs 89.80 on 3 January 2008 and a 52-week low of Rs 11.55 on 21 November 2008.

The stock had underperformed the market over the past one month till 21 November 2008, declining 41.43% as compared to the Sensex's 16.55% decline. It had also underperformed the market in the past one quarter, falling 69.78% as compared to the Sensex's fall of 37.41%.

The small-cap Back-office firm has an equity capital of Rs 428.19 crore. Face value per share is Rs 10.

The current price of Rs 12.80 discounts its Q2 September 2008 annualised EPS of Rs 2.52, by a PE multiple of 5.07.

Firstsource Solutions' consolidated sales rose 5.17% to Rs 429 crore in Q2 September 2008 over Q1 June 2008.

Firstsource Solutions reportedly expects to see a slowdown in revenue growth for the year-ending March 2009 as business slows and on foreign currency volatility.

The firm has revised downwards its annual dollar revenue guidance to 21% from 33-38% announced earlier.

Firstsource Solutions provides business process outsourcing services. The company provides services globally to companies in the banking, financial services, and insurance industries.