Firstsource Solutions Limited, a leading provider of Business Process Services, has released its Environmental, Social, and Governance (ESG) Report for the fiscal year 2024-25, highlighting significant progress in its sustainability initiatives and business transformation efforts.

Key Environmental Achievements

Firstsource has made substantial strides in its environmental commitments:

• Increased renewable power usage to 26.26% of total power consumption, a 164.00% increase from the previous year.
• Committed to Science Based Targets initiative (SBTi) near-term targets and Net Zero by 2050, with validation expected in FY26.
• Initiated an electric vehicle (EV) transition with a target of 50.00% fleet conversion by 2027.

Social Impact and Workforce Development

The company has demonstrated strong performance in social responsibility and employee engagement:

• Achieved 46.00% gender diversity, surpassing its 45.00% target.
• Exceeded its impact hiring goal with 11,061 hires, ahead of the 2025 target.
• Received Great Place to Work® certification in India, UK, US, and Philippines.
• Launched INDEX 2.0 and AI Coach initiatives to build a future-ready, inclusive workforce.

Governance and Client Satisfaction

Firstsource has strengthened its governance framework and maintained high client satisfaction:

• Deployed ESGfirst (Phase 1), a real-time ESG data platform aligned with global frameworks.
• Maintained a 95.00% client satisfaction score.
• Assessed 85.00% of supplier spend on ESG criteria using sustainability scorecards.

Recognition and Ratings

The company's ESG efforts have garnered significant recognition:

• Ranked in the top 99th percentile on the Dow Jones Sustainability Index with CSA and ESG scores of 81.
• Received a "B" rating from CDP for Climate disclosures and an "A" for Supplier Engagement Assessment.
• Awarded a Silver Medal by EcoVadis, placing the company in the top 15.00% globally.
• Won the "Best First-Time Responder" award from the Workforce Disclosure Initiative (WDI).

Strategic Framework

Firstsource's ESG progress is driven by two key strategic initiatives:

1. FirstConscious: The company's ESG framework
2. UnBPO™: Firstsource's transformation-led operating philosophy

Dr. Sanjiv Goenka, Chairman of RPSG Group and Firstsource, commented on the report: "We are living through a time of extraordinary unpredictability, where disruption is structural, not episodic. At Firstsource, we've moved from reacting to what's coming to shaping what's next. This ESG Report reflects that shift."

The FY25 ESG Report underscores Firstsource's commitment to embedding sustainability into its core business operations, moving beyond compliance to redefine responsible and sustainable business practices in the current global landscape.

For more detailed information, the full FY25 ESG Report is available for download on Firstsource's official website.

Firstsource Solutions Limited (NSE: FSL, BSE: 532809), a leading global provider of Business Process Services (BPS), has announced robust financial results for the first quarter, ending June 30. The company, part of the RP-Sanjiv Goenka Group, reported significant growth in revenue and profitability, along with several strategic wins and recognitions.

Financial Highlights

• Revenue reached ₹22,177.00 million (US$259.00 million), marking a substantial year-over-year growth of 23.8%.
• EBIT (Earnings Before Interest and Taxes) stood at ₹2,498.00 million, representing 11.3% of revenues and a 26.8% increase from the previous year.
• Profit After Tax (PAT) amounted to ₹1,693.00 million, constituting 7.6% of revenue.
• Diluted Earnings Per Share (EPS) was reported at ₹2.40.
• Free cash flow saw a significant quarter-on-quarter increase of 135%, with the FCF to PAT ratio at 196%.

Business Highlights

Firstsource demonstrated strong business momentum in Q1:

• Secured four large-deal wins during the quarter.
• Added 17 new logos, the highest in a single quarter over the past three years, with nine being strategic logos.
• Notable new deals included transforming claims and contact center operations for a leading US dental health plan and providing multi-state member contact center services for a major provider-sponsored health plan in the US.
• Expanded relationships with existing clients, including one of the largest utilities companies in the UK for Collections and CX services.

Segment Performance

The company reported progress across various verticals:

• Banking and Financial Services added two new clients.
• Healthcare sector saw the addition of eight new clients and all large deal wins for the quarter.
• Communications, Media & Technology added seven new clients, driven by demand for CX and AI-led solutions from digital-native brands.

Operational Metrics

• Employee strength at the end of Q1 stood at 34,495.
• Offshore/nearshore hires accounted for 80% of gross additions.
• The attrition rate further declined to 28.9%, showing a 13 percentage point improvement over the last eight quarters.

Recognition and Awards

Firstsource received several accolades during the quarter, including:

• Recognition as one of India's Best Companies To Work For by Great Place to Work®.
• Named among the Top Inspiring Workplaces in North America and UK & Ireland.
• Ranked third among Indian employers in the UK in the India Meets Britain Tracker by Grant Thornton.
• Received an A rating on CDP's Supplier Engagement Assessment (SEA).

Future Outlook

Firstsource has revised its constant currency revenue growth guidance to 13-15%, up from the previous 12-15%. The company maintains its EBIT margin projection in the 11.25% to 12% range.

Dr. Sanjiv Goenka, Chairman of RPSG Group and Firstsource Solutions, commented on the results: "We've begun the fiscal year on a positive note, building on the momentum of a breakthrough previous year. The consistent cadence of large, high-quality deal wins quarter after quarter underscores our ability to deliver impact at scale – powered by AI, deep domain expertise, and agile operations."

With its strong performance in Q1, Firstsource Solutions Limited continues to demonstrate its resilience and growth potential in the competitive Business Process Services sector.