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Total expense jumped 23.72% year on year to Rs 2,011.25 crore during the quarter. Employee benefits expense was at Rs 1,320.70 crore (up 17.21% YoY), while other expenses stood at Rs 549.86 crore (up 39.41% YoY) during the period under review.
EBITDA stood at Rs 347.1 crore in Q1 FY26, registering growth of 28.6% as compared with Rs 269.9 crore in Q1 FY25. EBITDA margin improved to 15.7% in Q1 FY26 as against 15.1% in Q1 FY25.
In dollar terms, the revenue stood at $259 million, registering a growth of 20.7% YoY. On constant currency terms, revenue was at 1.6% QoQ and 19.2% YoY.
The company’s employee strength stood at 34,495 at the end of Q1 FY26. Offshore and nearshore hires accounted for 80% of gross additions. The attrition rate declined further to 28.9%, marking a 13 percentage point improvement over the past eight quarters.
Looking ahead, the company now expects revenue to grow between 13% and 15% in FY26, in constant currency terms—slightly raising the lower end of its earlier forecast of 12% to 15%. This estimate doesn’t factor in any potential boost from Pastdue Credit Solutions, as that deal is still awaiting regulatory approval. The company also continues to target an EBIT margin of 11.25% to 12% for the full year.
Sanjiv Goenka, chairman of RPSG Group and Firstsource Solutions, said, “We’ve begun FY26 on a positive note, building on the momentum of a breakthrough FY25. The consistent cadence of large, high-quality deal wins quarter after quarter underscores our ability to deliver impact at scale—powered by AI, deep domain expertise, and agile operations.
Our differentiated UnBPO™ approach, coupled with a focus on nonlinear, multi-tower engagements, continues to fuel sustainable growth, even in a volatile macro environment. With AI now embedded at the heart of our delivery through the Firstsource relAI™ suite and Agentic AI Studio, I am confident that our people, platforms, and partnerships will continue to power meaningful outcomes for our clients and stakeholders.”
Firstsource Solutions is a global provider of business process management (BPM) services and an RP-Sanjiv Goenka Group company.
Angel One, Bandhan Bank, Hindustan Copper and RBL Bank shares are banned from F&O trading on 21 July 2025.
Upcoming Results:
Agi Greenpac, CIE Automotive India, CRISIL, DCM Shriram, Dodla Dairy, Eternal, Ganesh Housing Corporation, Havells India, IDBI Bank, Latent View Analytics, Mahindra Logistics, Oberoi Realty, Parag Milk Foods, PNB Housing Finance, Rajratan Global Wire, Sagar Cements, UCO Bank, UltraTech Cement will announce their result later today.
Stocks to Watch:
Reliance Industries' (RIL) profit after tax and share of profit/(loss) of associates & JVs increased by 76.5% year-on-year (Y-o-Y) to Rs 30,783 crore in Q1 June 2025. The company's gross revenue increased by 6% Y-o-Y to Rs 273,252 crore in Q1 June 2025.
Yes Bank reported 59.43% surge in standalone net profit to Rs 801.07 crore in Q1 FY26 as against Rs 502.43 ecrore posted in Q1 FY25. The bank’s total income rose 4.82% YoY to Rs 9,348.11 crore in the quarter ended 30 June 2025.
ICICI Bank reported a standalone net profit of Rs 12,768.21 crore in Q1 FY26, up 15.45% as against Rs 11,059.11 crore posted in Q1 FY25. Total income increased 11.85% year on year (YoY) to Rs 51,451.81 crore in Q1 FY26.
HDFC Bank's profit after tax (PAT) for the quarter ended June 2025 was at Rs 18,155.21 crore, a growth of 12.24% over the quarter ended June 2024. Net interest income (interest earned less interest expended) for the quarter ended June 2025 grew by 5.4% to Rs 31,440 crore from Rs 29,840 crore for the quarter ended June 2024.
RBL Bank’s standalone net profit tumbled 46.07% to Rs 200.33 crore in Q1 FY26 as against Rs 371.52 crore posted in Q1 FY25. However, total income increased 4.85% year on year (YoY) to Rs 4,510.57 crore in the quarter ended 30 June 2025.
Firstsource Solutions’ wholly owned subsidiary, Firstsource Solutions UK has executed a share purchase agreement with Pastdue Credit Solutions (PDC) to acquire 100% stake in PDC for a consideration of GBP 22 million, including upfront payment & earnouts.
Dr Reddys Laboratories announced that United States Food & Drug Administration (USFDA) completed a GMP and a Pre-Approval Inspection (PAI) at its formulations manufacturing facility FTO 11 in Srikakulam, Andhra Pradesh, India. USFDA issued a Form 483 with 7 observations.
Firstsource Solutions UK (FSL UK), wholly owned subsidiary of Firstsource Solutions, has executed a share purchase agreement (SPA) with Philip Peter Grant, Caroline Ann Grant, James Andrew Seroka and Joshua John Tierney Anthony, the shareholders of Pastdue Credit Solutions (PDC) for acquisition of 100% ownership in PDC for a consideration of GBP 22 million, including upfront payment & earnouts (Purchase Consideration) and subject to terms set out in the SPA and approval under National Securities and Investment Act 2021 (NSI Act) and from the Financial Conduct Authority (FCA).
Upon completion of the transaction, PDC will become a subsidiary of FSL UK and in turn a step-down subsidiary of the Company.
Pastdue Credit Solutions (PDC) is an FCA-registered UK based collections agency that is engaged in the business of providing white-label, early arrears and debt collections & recovery services. .