Firstsource Solutions (FSL), a RP-Sanjiv Goenka Group company, on Tuesday said it has signed a major contract with the entertainment major Sky, which has chosen it as the “sole preferred partner” in providing customer support services across TV and broadband.
According to Group chairman Sanjiv Goenka, the ten-year agreement with Sky, the Europe’s largest entertainment company, will be a game changer for FSL, which is currently third largest Indian BPO company.
“We have signed a very major contract with Sky. Sky has consolidated their entire outsourcing business to one vendor and that chosen vendor is Firstsource. I think it is a matter of pride for us that a company like Sky has chosen us on the basis of our performance. It is the largest contract that our company has ever got,” Goenka, also chairman of FSL, told a media conference here.
“Around 1,300 employees got transferred from Sky to Firstsource as of now. That is a huge business for us. We expect revenue growth from the agreement will come from the coming quarters,” he said.
He, however, declined to divulge details on the revenue gain, which his company will have from this contract.
The company said the agreement came as a result of the decision of Sky, a major provider of DTH, mobile and broadband services in the UK, to consolidate its outsourced areas under the core TV and broadband services into one strategic partnership.
Goenka informed that currently FSL’s deal pipeline stood at around $360 million as compared with $327 million in the last quarter. “Now, the company’s performance is beginning to improve. I see a very big future for it,” he said.
The company, a global provider of customised Business Process Management (BPM) services, reported 3.8% year-on-year rise in its consolidated net profit to Rs 70 crore for the third quarter ended December 31, 2016 from Rs 67.4 crore for the corresponding period a year ago.