The shares of the leading BPM services provider gained up to 4 percent after the company collaborated with Microsoft (NASDAQ:MSFT) Azure OpenAI to deliver cutting-edge digital transformation services.
With a market capitalization of Rs 21,610.20 crore, the shares of Firstsource Solutions (NS:FISO) Ltd were trading at Rs 310.05 per share, increasing around 1 percent as compared to the previous closing price of Rs 307.35 apiece.
Is Firstsource Solutions a buy or sell? What is its Fair Value? What are the company's health parameters? What are the positive and negative factors driving the company -- ProTips? Know all the answers on the company's overview page here.
Reason for rise:-
Today the shares of the company have seen positive movement after Firstsource Solutions Ltd announced a collaboration with Microsoft to deliver cutting-edge digital transformation services to clients worldwide. Additionally, by using Microsoft Azure OpenAI Service, the company aims to enhance its service offerings, driving innovation and efficiency across various industries.
Furthermore, under this new project, Firstsource will use Azure OpenAI Service, Azure AI Search, and Azure AI-Language to create generative AI-powered solutions and business platforms that maximize the value of enterprise data. These technologies will provide a multi-modal, multi-channel search experience for enterprises, considerably increasing effectiveness and customization.
Financial performance:-
Looking forward the company’s financial condition, revenue ramped up by 17 percent from Rs 1,529 crore in Q1FY24 to Rs 1,791 crore in Q1FY25, during the same time frame net profit zoomed significantly by 7 percent from Rs 126 crore to Rs 135 crore.
Recent achievement:-
Firstsource Solutions secured significant contracts with top UK banks, utilities, and financial institutions for transformational programs, core customer support, and financial crime compliance. They also added a leading pension administrator for enhanced service coverage.
The company won a major deal with a SaaS provider for the freight industry in North America, and expanded services with a top US healthcare insurer, covering digital intake, claims, and provider data management.
Company Profile:-
Firstsource Solutions Limited is an Indian-based firm. The company provides information technology (IT) enabled business process management (BPM) services to a variety of industries, including banking and financial services, healthcare, communication media, and technology.
Written by:- Abhishek Singh
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