homebusiness NewsLooking at niche acquisitions in digital, analytics and robotics space, says Sanjiv Goenka of Firstsource Solutions
Looking at niche acquisitions in digital, analytics and robotics space, says Sanjiv Goenka of Firstsource Solutions
CNBC-TV18 spoke with Sanjiv Goenka, chairman of Firstsource Solutions to decode the company's fourth quarter earnings.
Firstsource Solutions reported its Q4 earnings that showed improved margins and profitability in the quarter. CNBC-TV18 spoke with Sanjiv Goenka, chairman of Firstsource Solutions to decode the company's fourth quarter earnings.
Goenka said: "If you look at the year that has just gone by, we closed the year at Rs 377.8 crore versus Rs 326.5 crore last year. Rs 326.5 crore last year was after crediting Rs 24 crore of income tax refunds that we got the previous year. So, in actual terms the profit growth is 24.9 percent and the EBITDA margins have grown by 1 percentage point completely. The net debt is just USD 56 million and it is long term debt free. This USD 56 million is just what represents the working capital of the company."
He further added, "As far as the coming year is concerned, we expect profits to grow reasonably. We have had a certain trend in this year and we expect a similar trend to continue."
He also said: "We have got a contract with the largest power utility in Europe and that is ramping up very well. The major banks who are our clients in UK, they are ramping up very well. The refinancing and home loans business in the USA is looking very strong.
"So, overall we do expect to have a growth, we expect to have a decent growth. Going forward we will see a slight shift in focus, there will be more focus on non-voice business, there will be more focus on big wins, big clients, so I think there is a slight shift but even as we go forward this year 2019-20 appears to be fairly good."
On acquisitions, he said, "I do not know whether we will succeed in this calendar year or not but we will definitely be looking at niche acquisitions which will help us in the digital space, analytics space, robotics space and work is on in those areas."
First Published: May 6, 2019 4:34 PM IST
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