Firstsource net triples amidst high attrition

Firstsource net triples amidst high attrition

Mumbai: Business process outsourcing firm Firstsource Solutions Ltd on Wednesday said its profits tripled during the three months to December compared to the same period last fiscal.

However, Firstsource continued to be plagued by high attrition levels, which was at 34% for operations in the US and the UK, 43.7% for India, the Philippines and Argentina, and as high as 68.3% among employees catering to domestic customers.

In the immediately preceding quarter, the same were at 42.4%, 39.1% and 76.9%, respectively.

The firm’s profits rose to Rs33.3 crore, compared with Rs11.5 crore last year, driven by better pricing and increased business volumes.