Firstsource Solutions shares rally over 3.5% as firm collaborates with Microsoft

Using the power of Microsoft Azure OpenAI Service, Firstsource aims to enhance its service offerings, driving innovation and efficiency across various industries, the company said in its press release. 

Under this new initiative, the RP-Sanjiv Goenka Group company will utilise Azure OpenAI Service, Azure AI Search, and Azure AI Language to provide generative AI-powered solutions and business platforms that unlock the full potential of enterprise data. These solutions will offer a multi-modal, multi-channel search experience, significantly improving effectiveness and personalisation for businesses.

“Delivering exceptional value and prioritising our clients' interests requires identifying the most effective solutions across the entire ecosystem. At Firstsource, we have cultivated a powerful network of industry-leading partners, allowing us to seamlessly integrate their capabilities—like Azure OpenAI—with our own. The collaboration with Microsoft enables us to offer clients the best of both worlds, where the combined value far exceeds the sum of its parts. Our goal is to leverage this network to solve complex challenges for our customers, delivering solutions that are truly cutting-edge and transformative," said Ritesh Idnani, Managing Director & Chief Executive Officer at Firstsource Solutions.

Firstsource Solutions Q1 FY25 Results

The company reported a 17.1% YoY rise in its revenues at ₹1,791.1 crore, while earnings before interest and tax (EBIT) came in at ₹197 crore, 11% of revenues. The figure was 10.1% YoY. Net profit, or profit after tax (PAT), stood at ₹135.3 crore, or 7.6% of revenue. Diluted earnings per share (EPS) for the quarter was ₹1.92, as per the company's earnings statement.

In a year, shares of Firstsource Solutions have gained 86%.