Hot Pursuit     01-Feb-17
Firstsource gains after signing 10-year outsourcing deal with Sky
Firstsource Solutions rose 1.64% to Rs 40.35 at 11:25 IST on BSE after the company's overseas subsidiary signed a contract for the previously announced 10-year strategic partnership with Sky Subscriber Services, UK.
The announcement was made after market hours yesterday, 31 January 2017.

Meanwhile, the S&P BSE Sensex was up 27.32 points or 0.1% at 27,683.28

On the BSE, 3.98 lakh shares were traded on the counter so far as against the average daily volumes of 4.05 lakh shares in the past two weeks. The stock had hit a high of Rs 41.75 and a low of Rs 40.15 so far during the day. The stock had hit a 52-week high of Rs 53.65 on 26 July 2016 and a 52-week low of Rs 28.85 on 17 February 2016.

The small-cap company has equity capital of Rs 678.04 crore. Face value per share is Rs 10.

Firstsource Solutions said that Firstsource Solutions UK (FS UK), a wholly owned subsidiary of the company and Sky Subscriber Services, UK (Sky UK) has signed the contract for the previously announced 10-year strategic partnership. The letter of intent was signed on 18 July 2016. The agreement follows a strategic review conducted by Sky UK to consolidate their partner network and have decided to make FS UK their single preferred partner for their core TV and broadband services across their estate.

On a consolidated basis, Firstsource Solutions' net profit fell 1.75% to Rs 70.01 crore on 0.23% rise in total income to Rs 886.82 crore in Q3 December 2016 over Q2 September 2016.

Firstsource Solutions is a global provider of customised BPM (Business Process Management). It operates in India, the Philippines, Sri Lanka, the UK and the US.

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