FIRSTSOURCE SO­LU­TIONS

Flash News Investment - - RECOMMENDATIONS -

We had rec­om­mended the stock of Just Dial in vol­ume no 34, is­sue no 39 (dated 26 July, 2018) when the scrip was trad­ing at Rs. 72.85 . In the sec­ond quar­ter of FY2018-19, the com­pany re­ported stel­lar PAT growth of 35 per cent yoy to Rs. 93 crore. But the com­pany’s net sales grew by nearly 9 per cent yoy to Rs. 955 crore. Its EBITDA for the quar­ter in­creased by al­most 21 per cent yoy to Rs. 133 crore. The weak ru­pee against the US dol­lar is ex­pected to drive FSL’s prof­itabil­ity go­ing for­ward. The man­age­ment ex­pects sec­ond half of FY19 to be bet­ter than the first half of FY19 on ac­count of ramp up of deal wins, im­prov­ing growth in top clients and higher trac­tion in the BFSI seg­ment. Thus, we urge our in­vestors to con­tinue to HOLD the scrip.

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