Firstsource to sell portion of India business to Vertex
New Delhi: Business process management firm Firstsource Solutions on Friday said it will sell a portion of its domestic business in India to Vertex Customer Management India. No financial details of the deal were disclosed.
“Firstsource Solutions Ltd...has signed definitive agreements to sell a portion of its India domestic business, to Vertex Customer Management India,” the business process outsourcing (BPO) firm said in a regulatory filing. It added that the sale is subject to approvals.
The company did not specify details on the reason for the sale and the contours of the deal.
Firstsource, which is part of the RP Sanjiv Goenka Group, had reported revenues of Rs892.3 crore for the quarter ended March 2017. For the year ended March 2017, the company’s revenues were at Rs3,555.6 crore, up 10.5% over 2015-16.
The firm’s India business accounted for 6.1% of the said quarter’s revenues and 5.8% for the fiscal.
Shares of Firstsource closed marginally lower at Rs34.95 apiece on the BSE.