Firstsource to focus on organic growth, reducing attrition

MUMBAIP: Pure-play BPO major Firstsource Solutions will focus on organic growth and expanding its existing platforms with acquisitions not a priority for now, a top company official has said.

"Our priorities revolve around organic growth and our focus is on growing our existing platforms," Firstsource Solutions Managing Director & CEO Matthew Vallance told PTI here.

The firm operates through four verticals - healthcare, financial services, telecom and Asia Business Unit ( India business).

If the company does indulge in an acquisition, it would be a small-sized one, he said. "If at all we acquire a company, it will be a small one."

The company has also "substantially improved" its staff-retention, another key focus area for it, he said.

"We are focusing on reducing attrition and in Q3 there has been a substantial improvement in our staff-retention numbers," Vallance said, adding 1,759 personnel were added during the quarter. The company's headcount (as at December 2010) stood at 26,668.

Firstsource clocked a revenue growth of 4.8 per cent at Rs 514.6 crore in Q3 FY 11 as compared to the year-ago, while profit after tax increased 4.9 per cent to Rs 35 crore.

The company expects a strong performance in both revenue and profitability in Q4 FY 11 on the back of strong collections, a healthy order-book and the full impact of its Barclaycard deal in the UK, Vallance said.