Firstsource Solutions quarterly results and financials

Firstsource Solutions (FSL)₹298.20+1.76%(9 Nov 2026 close)Business Process Outsourcing (BPO)/ Knowledge Process Outsourcing (KPO)

Key facts

In the Sep 2026 quarter (consolidated), Firstsource Solutions reported sales of ₹2,831 Cr, up 22.2% from Sep 2025, and net profit of ₹233 Cr, up 28.8% year on year. For the year to Mar 2026, sales were ₹9,575 Cr and net profit ₹677 Cr.

Sales (Sep 2026): ₹2,831 Cr
Net profit (Sep 2026): ₹233 Cr
Sales (FY Mar 2026): ₹9,575 Cr
Net profit (FY Mar 2026): ₹677 Cr
EPS (Sep 2026): ₹3.30
Borrowings (Mar 2026): ₹2,921 Cr

Company filings, consolidated accounts; latest reported quarter Sep 2026

Firstsource Solutions quarterly results

₹ crore unless stated; each column is a quarter.

Firstsource Solutions Quarterly results
	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Sales	1,600	1,674	1,795	1,927	2,107	2,164	2,222	2,317	2,447	2,588	2,728	2,831
Expenses	1,355	1,417	1,519	1,633	1,780	1,824	1,867	1,932	2,036	2,148	2,270	2,348
Operating Profit	237	250	270	287	318	333	347	376	403	430	451	471
OPM %	15.0%	15.0%	15.0%	15.0%	15.0%	15.0%	16.0%	16.0%	16.0%	17.0%	17.0%	17.0%
Other Income	14.96	2.99	1.99	−2.99	6.99	1.99	6.99	0.99	−96.89	−1.99	−65.84	−1.99
Interest	25.06	27.05	32.05	34.05	39.10	43.08	43.10	43.09	43.06	52.07	52.06	51.09
Depreciation	66.19	67.20	73.17	79.24	84.22	91.14	97.19	110	111	116	115	118
Profit before tax	161	159	167	171	201	202	213	224	152	261	219	299
Tax %	20.1%	16.0%	19.0%	19.0%	20.1%	20.1%	21.0%	20.0%	21.0%	21.1%	24.1%	22.0%
Exceptional items	0.00	0.00	0.00	0.00	7.01	0.00	0.00	2.01	−74.11	0.00	−54.13	0.00
Net Profit	129	135	135	139	161	162	170	181	120	206	167	233
EPS (Rs)	1.84	1.91	1.93	1.97	2.28	2.26	2.40	2.55	1.69	2.89	2.34	3.30

Firstsource Solutions profit and loss

₹ crore unless stated; years end in March. TTM is the last four quarters.

Firstsource Solutions Profit and loss
	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Sales	3,222	3,562	3,543	3,835	4,106	5,083	5,932	6,033	6,350	7,990	9,575	10,595
Expenses	2,813	3,102	3,059	3,264	3,438	4,226	4,924	5,154	5,318	6,720	7,935	8,802
Operating Profit	397	446	471	552	654	839	981	858	1,007	1,242	1,605	1,754
OPM %	12.0%	13.0%	13.0%	14.0%	16.0%	17.0%	17.0%	14.0%	16.0%	16.0%	17.0%	16.6%
Other Income	8.98	2.99	4.99	3.99	8.99	−114	0.99	131	36.93	7.98	−90.82	−167
Interest	61.10	54.12	53.09	46.07	83.17	87.19	86.17	110	155	184	230	198
Depreciation	61.10	59.13	66.15	74.19	186	207	250	264	261	328	435	461
Profit before tax	286	337	358	435	393	431	647	614	629	740	850	930
Tax %	9.0%	17.1%	9.0%	13.1%	14.0%	16.0%	17.0%	16.0%	18.0%	20.1%	21.1%	—
Exceptional items	5.01	4.01	5.01	3.01	5.01	−95.14	2.01	3.01	1.01	13.03	−73.17	−128
Net Profit	262	280	328	379	341	363	539	516	517	597	677	726
EPS (Rs)	3.88	4.12	4.77	5.48	4.91	5.21	7.70	7.34	7.32	8.40	9.53	10.22
Dividend payout %	0.0%	0.0%	32.0%	37.0%	51.0%	58.0%	45.0%	47.0%	46.9%	47.0%	57.0%	—

Firstsource Solutions balance sheet

₹ crore, at each year end.

Firstsource Solutions Balance sheet
	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	667	675	682	689	692	695	697	699	699	699	698	699
Reserves	1,420	1,103	1,346	1,663	2,026	2,071	2,100	2,333	2,667	2,999	3,396	3,684
Borrowings	1,031	891	964	666	557	1,357	1,194	1,783	1,392	1,527	2,568	2,921
Other Liabilities	307	287	317	353	354	395	793	794	789	705	1,096	1,834
Total Liabilities	3,428	2,956	3,309	3,370	3,629	4,518	4,785	5,609	5,547	5,931	7,759	9,136
Fixed Assets	2,442	2,021	2,066	2,077	2,220	2,870	2,996	3,737	3,714	3,851	4,989	5,564
CWIP	8.02	2.01	4.01	2.01	2.01	0.00	0.00	3.01	3.01	17.06	49.14	30.07
Investments	72.72	84.65	162	33.87	134	11.95	93.73	129	70.80	41.82	72.74	116
Other Assets	904	848	1,076	1,258	1,274	1,635	1,695	1,739	1,759	2,022	2,648	3,427
Trade receivables	288	303	306	377	386	556	840	958	1,036	1,158	1,681	2,074
Cash & equivalents	80.08	69.04	39.02	123	47.03	191	137	90.09	156	188	167	269
Total Assets	3,428	2,956	3,309	3,370	3,629	4,518	4,785	5,609	5,547	5,931	7,759	9,136

Firstsource Solutions cash flow

₹ crore, for each year.

Firstsource Solutions Cash flow
	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from operating activity	246	297	200	315	400	410	975	704	795	644	700	1,214
Cash from investing activity	−104	−101	−233	96.23	−204	10.04	−345	−596	17.03	−57.19	−746	−444
Cash from financing activity	−247	−208	4.01	−328	−274	−277	−691	−158	−745	−565	23.05	−668
Net cash flow	−105	−10.97	−29.91	83.81	−75.80	143	−57.82	−48.91	68.80	22.93	−20.93	104
Capex	45.99	86.03	85.08	62.99	109	113	173	84.98	53.99	84.99	241	196
Free cash flow	200	211	123	257	291	296	804	629	742	558	476	1,079
CFO / OP %	76.1%	89.1%	57.1%	83.1%	84.1%	71.1%	125.1%	81.1%	100.1%	71.1%	66.1%	87.1%

Firstsource Solutions ratios

Working-capital days and returns, by year.

Firstsource Solutions Ratios
	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor days	35	34	31	39	37	50	61	59	63	67	77	79
Cash conversion cycle	35	34	31	39	37	50	61	59	63	67	77	79
Working capital days	−33	−27	−33	−35	−20	−37	−28	−20	−22	−19	−20	−40
ROCE %	10.0%	12.1%	14.0%	13.0%	15.0%	13.0%	16.1%	17.0%	15.1%	16.1%	15.0%	17.0%

Firstsource Solutions: frequently asked questions

What are the latest quarterly results of Firstsource Solutions?

For the Sep 2026 quarter, Firstsource Solutions reported sales of ₹2,831 Cr, up 22.2% year on year and net profit of ₹233 Cr, up 28.8% year on year. The operating margin was 17.0%.

What is the annual revenue of Firstsource Solutions?

Firstsource Solutions' sales for the year to Mar 2026 were ₹9,575 Cr; over the last twelve months they were ₹10,595 Cr.

What is the net profit of Firstsource Solutions?

Net profit for the year to Mar 2026 was ₹677 Cr, and ₹726 Cr over the last twelve months. Earnings per share over the same trailing period were ₹10.22.

How much debt does Firstsource Solutions have?

Firstsource Solutions reported borrowings of ₹2,921 Cr at Mar 2026, against cash and equivalents of ₹269 Cr.

What is the free cash flow of Firstsource Solutions?

Cash from operations was ₹1,214 Cr in the year to Mar 2026; after capital spending, free cash flow was ₹1,079 Cr.

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