Firstsource makes 2nd quarterly repayment on outstanding debt

PTI Posted online: Tuesday, Oct 01, 2013 at 0000 hrs
New Delhi : Business Process Management (BPM) services firm Firstsource Solutions today said it has paid the second quarterly repayment of $11.25 million (about Rs 702 crore) on its outstanding debt yesterday.

In a filing to the BSE, Firstsource said: "Firstsource Group USA, Inc, a wholly owned subsidiary of the company has successfully made its second quarterly repayment of $11.25 million on its outstanding debt on September 30, 2013."

Earlier in June this year, Firstsource Group USA, had made its first quarterly repayment of $11.25 million on its outstanding debt.

The company posted 41.6 per cent jump in net profit at Rs 41.04 crore for the June quarter. Revenues rose 6.5 per cent to Rs 719.12 crore for the reported quarter compared to Rs 675.170 crore in the corresponding period last year.

Last year, RP-Sanjiv Goenka Group had acquired 49.5 per cent stake in Firstsource through a wholly-owned subsidiary of CESC Limited in a Rs 400 crore deal. It further acquired 7.36 per cent through an open offer, taking its total shareholding to 56.86 per cent.